The Ax-Man here, updating you folks with latest information.
Next week (week of Jan 27) there will be major and numerous high-level meetings happening at Oracle HQ in Redwood Shores.
Execs from all several major business units and top corporate leadership are meeting to plan out further rationalization of the workforce, map out businesses and product lines to cut, and identify pockets of employees who will be targeted for large layoffs starting in March.
Last Friday’s lay-off of sales people was the largest sales-related mass lay-off in company history. The numbers that have been reported here and elsewhere are far below the actual numbers.
The eventual goal is to get the company headcount below 100,000 employees — this will be a reduction of 30,000-40,000 employees over the next two years.
Much of it will be done as stealthily as possible, and company leadership is banking on as much of 30% of this reduction being by attrition.