Well expected results for Q3. Oracle's operating expenses were so high and I expected Oracle to play down with restructuring. Oracle also handles litigation, acquisition expenses as part of its restructuring in addition to layoffs. This Quarter Oracle had to deal with lots of litigations so it really didn't focused much on Layoff.
Oracle is slow and steady and still operating in Profit mode despite industry down. Oracle employees are already low paid in markets (other than cloud division) compared to its competitors. Letting them go has its own impact. Oracle handled this situation perfectly till date.
Oracle has to bring the operating expenses of R&D, Sales and Cloud services. So expect a trim down in projects and layoffs in these areas for sure. Internal and Non-revenue projects in these areas beware. Legacy projects / components to be dropped support and let go.
With Government trying to increase interest rate and raise unemployment rate. Expect more layoffs to come. If you get out this time, its hard to find new job in market. Be prepared for it.
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