Network sources report that Oracle intends to close the Chinese division for research and development. As a result of this step, more than 900 employees will lose their jobs.
The announcement also states that employees who are laid off will receive compensation. For those who agree to resign before May 22, a bonus is supposed to be paid according to the “N + 6” monthly salary scheme, where the N parameter is the number of years the employee has worked in the company.
The current reduction is not the first for Oracle in recent times. Recall that in March 2019, the company announced that it planned to lay off 350 employees working in a research center located in the United States. The representative of the company said that Oracle intends to carry out a permanent balance of resources, 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, which employ about 5000 employees. It is worth noting that the Asia-Pacific division brings about 16% of the company's total income.
Despite the fact that recently Oracle has been increasing its investment in cloud services, the company's position inside the Chinese market is rather weak. The dominant roles in the region are played by Alibaba Cloud, Tencent Cloud, China Telekom and AWS.
Source: 3dnews.ru