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software giant Oracle Corp to cut 1000 jobs in Europe, mainly in france.
By Amarendra Bhushan for CEOWORLD Magazine Updated:July 3, 2009
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US software giant, California-based Oracle Corp has unveiled plans to cut 850 to 1,000 jobs in Europe in light of weaker than expected growth projections. Oracle employs 17,000 people in Europe, including 1,600 in France.
Oracle had 86,000 employees worldwide.
Oracle would join EMC Corp, Hewlett-Packard Co, International Business Machines Corp, Intel Corp, Microsoft Corp and SAP AG, among others technology companies to undertake significant layoffs in this economic downturn.
About 250 jobs will be lost in France, equivalent to 16 percent of the company’s workforce there.
Oracle in June reported that its fiscal fourth quarter, ending May 31., declined 7.2%, its first revenue decline in seven years, as the stronger dollar and continuing economic weakness weighed on revenues and earnings.
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