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Oracle Could Cut 1,000 Jobs In EuropeSilicon Valley / San Jose Business Journal
July 2, 2009
Oracle Corp. may cut as many as 1,000 jobs in Europe, according to a report Thursday.
The Wall Street Journal, citing a post on a French labor union's Web site, said Redwood City-based Oracle (NASDAQ:ORCL) is expecting slower growth than it had hoped for in Europe.
The union CFDT expressed "surprise and anger" over the planned cuts, the Journal reported.
Oracle has about 17,000 employees in Europe and about 86,000 employees in all.
In June the company reported fourth quarter net income of $1.9 billion, or 38 cents a share, compared to $2 billion, or 39 cents a share in the same period last year.
Oracle had revenue of $6.9 billion, down 5 percent from the year-ago quarter.
http://www.bizjournals.com/sanjose/stories/2009/06/29/daily80.html
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