Tech giant behind F1 team fires 30,000 staff – ‘another round to come’ | World | News
The software giant announced its major layoff decision in an email to its employees at 6 a.m. (Image: Getty)
Oracle, the American multinational technology company co-founded by billionaire Larry Ellison, has reportedly sent layoff emails to tens of thousands of employees worldwide. The tech giant, which also serves as the title partner of the Red Bull Racing Formula 1 team, laid off nearly 12,000 employees in India alone as part of the 30,000 laid off.
Another round of layoffs is expected within a month. “About 12,000 employees have been laid off in India. The company is planning another mass layoff within a month,” two people affected by the layoffs, including one from the company’s human resources department, told news agency PTI. In an email sent early in the morning, employees were informed of certain organizational changes, stating that “due to these changes, a decision has been made to streamline operations and as a result, unfortunately, the position you currently hold will become redundant.”
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Billionaire Larry Ellison founded Oracle in 1977 (Image: Getty Images)
Oracle employs approximately 162,000 people as of May 2025; This means that disruptions on the scale discussed could affect around 18% of the workforce.
Dozens of people on Oracle employees’ Reddit page are reporting that they have been laid off via a single email that arrived in their inboxes a few minutes after 6 a.m. on Tuesday, March 31. Workers in the United States, India, and other countries reported receiving the same email from “Oracle Leadership” with the subject line “Immediate Action Required – Important Information Regarding Your Employment.” Soon after, more than a dozen people announced on LinkedIn that they had been laid off by Oracle. Business Content. The outlet reported that some of the affected roles include staff at Oracle’s cloud computing business.
Software giant Oracle was co-founded in 1977 by Mr. Ellison, Bob Miner and Ed Oates, who is ranked sixth on the Forbes Billionaires list, and since then the company has pioneered the world’s first autonomous database and the broadest range of AI-powered cloud applications. The company has cut thousands of jobs in 2022 after acquiring medical records giant Cerner for $28bn (£21bn).
The company has reportedly offered 15 days’ salary to every employee who completes one year of service in India, along with one month’s outstanding wages till the date of termination, eligibility for one month’s notice period, and salary-based leave cash and gratuity. Oracle also offered an additional two months’ salary. Hindustan Times.
Staff cuts could affect around 18% of Oracle’s workforce (Image: Reddit)
Those layoffs come after Oracle’s shares fell nearly 30% this year, and analysts reported in December that the company’s shares were on track for their worst quarter since 2001. In January, Business Insider reported that Oracle was struggling to secure funding for its $500bn (£375bn) AI data center infrastructure project with ChatGPT operator OpenAI, known as Stargate. Then in February Oracle announced a $50bn (£37.5bn) debt raise to help finance its AI data center build-out.
Former Oracle employee Merugu Sridhar said he was fired in September for protesting the company’s 16-hour shift in India, Hindustan Times reported.
“I contacted my friends and people in charge of human resources. They shared that most of the Indians working in the company in the US are affected because the local laws there are very strict on firing their citizens,” PTI quoted Mr. Sridhar as saying.
The Express contacted Oracle, which declined to comment.
