Latest news with #FusionERP
India.com
11 hours ago
- Business
- India.com
Bad news for employees of THIS company as it fires 10% of its India workforce due to…, Not Ratan Tata's TCS, Azim Premji's Wipro or Narayana Murthy's Infosys
Narayana Murthy, Late Ratan Tata and Azim Premji- File image (Left to right) Oracle layoff: In a matter of bad news for Indians working in US companies and more specifically, Oracle, an American multinational computer technology company headquartered in Austin, Texas has trimmed around 10% of its India workforce mostly concentrated in the Cloud Infrastructure (OCI) unit. Here are all the details you need to know about the recent layoff decision by Oracle. Why is Oracle firing Indian employees? As per a report by BW People, the layoff is part of wider global restructuring, with employees in Israel, Canada, and the US also impacted. The report also said that enterprise engineering, Fusion ERP, AI/ML, and other core cloud functions are most likely impacted by the Oracle layoff decision. Oracle to train 200K students in India in Cloud, AI tech In a significant development from June, Cloud major Oracle announced that it would support the training of 200,000 students in India in Cloud, data science, Artificial Intelligence (AI), and other emerging technologies, a report by news agency IANS said. 'Tamil Nadu ranks among one of India's top 12 states with a growing youth population. As part of our responsibility to provide youth and young professionals with a platform to upskill themselves and achieve their career goals, we launched Naan Mudhalvan,' said J. Innocent Divya, MD, TNSDC. (With inputs from agencies)
Business Insider
5 days ago
- Business
- Business Insider
Oracle (ORCL) Is Cutting Hundreds of Cloud Jobs to Boost AI Expansion
Computer software company Oracle (ORCL) is laying off hundreds of employees in its cloud unit as it looks to manage costs while investing in AI infrastructure, Bloomberg reported. The move is part of ORCL's efforts to focus on high-growth areas such as AI compute and data center expansion. ORCL stock was down about 4% on Wednesday. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. The company has not confirmed the exact number of layoffs, but reports suggest the impact spans teams in the U.S., India, and some other regions. Also, some job cuts are performance-related, and the cloud team is reportedly still hiring new people. Further, Data Center Dynamics reported that the cuts likely affected OCI's enterprise engineering division, Fusion ERP, data center operations technicians, technical project managers for the AI/ML team, and the broader OCI AI team. Oracle Doubles Down on AI The layoffs come amid Oracle's push to become a key AI infrastructure provider. It recently launched a new Electronic Health Record (EHR) AI system that allows clinicians to use voice commands to access patient data and receive real-time insights. Moreover, the company recently inked a massive deal with OpenAI to supply data center power for its Stargate initiative and is investing billions to build out server farms across the U.S. and beyond. The company is scaling its infrastructure as demand grows, allowing it to offer strong AI services at lower costs and with better performance. Together, these moves are part of Oracle's push to become a key player in the future of AI enterprise technology. Is ORCL Stock a Buy? Overall, ORCL stock has a Moderate Buy consensus rating based on 24 Buys and 10 Holds assigned in the last three months. The average Oracle stock price target of $244.66 implies about 0.20% upside from current levels.
