Network sources report that Oracle plans to close its research and development division in China. As a result of this move, over 900 employees will lose their jobs.
The report also states that the laid-off employees will receive compensation. For those who agree to resign by May 22, a severance bonus under the 'N+6' scheme will be provided, where N is the number of years an employee has worked at the company.
This current reduction is not the first for Oracle in recent times. Recall that in March 2019, the company announced plans to cut 350 employees working at its research center located in the United States. A company representative mentioned that Oracle intends to maintain a constant resource balance accompanied by a restructuring of the development team.
It is worth noting that the American company Oracle has been present in China for about two decades. The division includes 14 branches and 5 research centers, employing around 5,000 staff. It is also important to point out that the Asia-Pacific division contributes about 16% of the company's total revenue.
Despite Oracle increasing its investments in cloud services recently, the company's position in the Chinese market is relatively weak. Dominant players in the region include Alibaba Cloud, Tencent Cloud, China Telekom, and AWS.
Source: 3dnews.ru
