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As we had reported yesterday, one of the biggest IT giant in the world, Oracle had fired around 30,000 software engineers starting from 6 AM US time yesterday. Now, something pretty unexpected and significant has happened in India as well.
Apparently, this leading IT giant has fired as many as 12,000 Indian software engineers yesterday, and this is a shocking statistic considering that the company has only 30,000 employees here.
This statistic would essentially mean that Oracle has fired nearly half of its employees in India. This is a pretty significant and fear inducing update for the Indian software population as such a statistic is nearly unprecedented for a major company like Oracle.
When such financially significant companies like Oracle are firing nearly half of their workforce in India, this is never going to be a good sign for the software revolution domestically. If this trend continues in the near future, then many such companies could be firing their workforce at large as well.
Several Indian social media users who had apparently been working with Oracle posted on (X) Twitter yesterday about how they received a cold email from the company about the termination.
It is being reported by national media channels that the terminated employees have been notified that they would be getting 15 days, pay as severance along with the running month salary. But this was not confirmed by the company, and hence it subject to change based on the policy.
The fact that nearly half of the Indian jobs at a leading company like Oracle wiped away in a span of a few hours yesterday is an indication of the ongoing crisis in the job market.
Tags Oracle layoff
