Oracle has been buying companies left and right in the past so it's bloated. It's trimming fat now that's all. Nothing new in the world of business.
For employees, don't focus on the job but beyond it. I always consider the job as a means to an end. I use the company to achieve my end goal. That means I'm in control, not the company.
Don't let the company use you. They will discard you in a second. You need to turn the table around. Good luck to all.