A big news has come out about the American IT company, Oracle. According to reports, the company has laid off around 12,000 employees in India, and there is speculation that another round of mass layoffs could take place within the next month. More than 40 percent of the total people laid off by the company worldwide are Indian employees.
The special thing is that the company has laid off about 30,000 employees across the world. This information has been confirmed by the employees who have been affected by this layoff. It is being told that the total number of Oracle employees in India is around 30,000, a large part of which has been affected by this decision. However, the company has refused to officially comment on the matter.
What happens next after layoffs?
In an email sent to the company’s employees, it has been said that some organizational changes are being implemented, due to which a decision has been taken to streamline the functioning. As a result, many positions are being eliminated, causing employees to lose their jobs. A severance package (compensation package) has also been announced for the employees after the retrenchment. Under this package, employees who have completed one year of service will receive 15 days’ salary. Additionally, the package includes salary up to the date of termination of employment, leave encashment, gratuity (as per eligibility), and one month’s salary in lieu of notice period. The company has also offered an additional two months’ salary; However, this special package is available only to those employees who resign by mutual consent.
Questions raised over layoffs; More impact on Indian employees
Meanwhile, Merugu Sridhar, a former employee of the company, claimed that he had already been fired from the job. He said that due to strict labor laws in the United States, the layoffs have impacted Indian employees more than American employees. Overall, these layoffs by Oracle are becoming a big matter of concern for the IT sector—not just in India, but also globally.
