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The layoffs continue at Oracle, specifically in Hardware ("converged infrastructure" too), as our HW revenue has shrunk from 5b per year in 2010 to 1.7b roughly
by salesguy222 10y ago
The layoffs continue at Oracle, specifically in Hardware ("converged infrastructure" too), as our HW revenue has shrunk from 5b per year in 2010 to 1.7b roughly this year.
Margin had dropped drastically as well, from 1.9b in profit to -45m (!) in the same time period. All data taken from our public SEC filings.
While this doesn't truly affect Oracle and its stock that much, our overall revenue continues to shrink globally. As such there have been thousands of people who have been laid off in the past two years, some silently, some in the WARN act.
Countless others have seen their roles relocated to India and Romania, which helps the company save on salaries, benefits, and commissions. By lowering cost of sales by hundreds of millions USD, the company has maintained its margin of roughly 30% per year.
But the layoffs will continue, and if the "Enterprise Hardware amd Software" market ever truly does ship out to the cloud, it probably won't be Oracle that is there to service those customers.
: many of my friends are Indian and Romanian and I am very glad they have decent jobs in their countries. I do not share the xenophobic sentiments of many of those who resent those countries that are receiving jobs from laid off roles in the US
- userulluipeste 10y agoI also have friends working at Oracle in Romania, and I confirm what you're saying. They are in the "who is hiring" category there.
- salesguy222 10y agoGreat, thank you! I'm glad to hear it. I'd say in the last 3-4 years, the number of Romanian employees has grown from 1-2k to 5-7k. Of course I could provide official numbers, but Oracle sues its own employees on a daily basis :)
- bruceb 10y agoHow is one being xenophobic if they are not happy their job is going overseas?
- salesguy222 10y agoI apologize for the very late delay on this response. Of course someone should be unhappy that their CEO and Board of Directors has made a decision to lay them off in the USA explicitly because of salary costs, instead of performance or some important cause. The reality is that this is the right of a private company- all you can do is attempt to navigate the deeply illogical and political system that we call the private sector. Deciding that you should hate someone you've never met, because of their skin color, national origin, etc, because you think that THEY PERSONALLY took your job, is not logical or enjoyable in my opinion. One should always blame the company, an artificial and greedy machine, not a fellow human, which is an organism driven by self preservation no matter the country of origin
- toomuchtodo 10y agoIts easy to paint others as xenophobic when its not your job being shipped overseas.
- ajeet_dhaliwal 10y agoHow much xenophobic sentiment is there within tech workers themselves? I would think very little because most people in the industry are smart enough to understand that would be misdirected.
- salesguy222 10y agoI generally agree with you, but I would say if the tech industry as a whole was like a muscle that appeared empathetic and understanding of cultural differences, there would be a thin nerve of xenophobia that controls some of the major movements of said muscle. Why do I say this? It is a bit inherent for Americans to believe their job is theirs alone if they are performing adequately. If you are laid off, especially in sales, and then the company goes and spends money to hire someone in India or Romania, a xenophobic person would blame that new employee for existing. They wouldn't blame the company for making an unprofitable and often unethical move.