I can tell you that this will be a significant year for layoffs and the majority of layoffs have yet to come. I'd like to call attention to a particular sentence on page 19 of the Oracle 10q.
We expect to incur the majority of the estimated remaining $519 million through the end of fiscal 2023
In the first quarter of fiscal 2023, our management supplemented the 2022 Restructuring Plan to reflect additional actions that we expect to take. The total estimated restructuring costs associated with the 2022 Restructuring Plan are up to $888 million and will be recorded to the restructuring expense line item within our condensed consolidated statements of operations as they are incurred. We recorded $146 million and $55 million of restructuring expenses in connection with the 2022 Restructuring Plan in the first three months of fiscal 2023 and 2022, respectively. We expect to incur the majority of the estimated remaining $519 million through the end of fiscal 2023
Again restructuring cost doesn't mean shuffling office space or moving teams around. According to note (1) ...
Restructuring costs recorded to each of the operating segments presented primarily related to employee severance costs
Oracle 10k filed with the sec here:
Its just a matter of time before OCI is seen for what it is:
Vulnerability full disclosure - New Oracle cloud vulnerability allowed users to access the virtual disks of other Oracle customers >>
Oracle appears to be cutting back on development hiring and appears to be heading into maintenance mode. I believe this based on the fact that marketing was hit hard this summer. Sales and development cuts will follow as they are the highest expenses. The dismal OCI sales numbers over the past decade has to have executives realize that the future of OCI in its current iteration is not viable. Its the only thing Oracle has seriously invested in.
I believe heatwave is the first sign of a surrender to the other cloud providers.
I do believe that Oracle is rapidly heading into maintenance mode with only a focus on database technologies running in other cloud providers.