Oracle Layoff: Big news has come out regarding American IT company Oracle. According to reports, the company has fired about 12,000 employees in India and another large-scale layoff is expected in the coming month. The number of Indian employees is more than 40 percent of the number of people laid off by the company worldwide.

The big thing is that globally the company has laid off about 30,000 employees. This information has been confirmed by the employees affected by the layoff. It is being told that the total number of Oracle employees in India is said to be around 30000, out of which a large number have been affected by this decision. However, the company has refused to comment officially on this entire matter.

What will happen now after the retrenchment of employees?

In the email sent to the company’s employees, it has been said that some changes are being made in the organization, due to which it has been decided to simplify the operations. As a result, many posts are being abolished, which has affected the jobs of employees. A severance package has also been announced for the employees after the retrenchment.

Under this, 15 days salary will be given to the employees who have completed one year of service. Apart from this, salary till termination date, leave encashment, gratuity as per eligibility and salary for one month notice period are also included. The company has also proposed to pay an additional two months’ salary, but this package is only for those employees who resign with mutual consent.

Question on retrenchment, greater impact on Indian employees

Meanwhile, Merugu Sridhar, a former employee of the company, claimed that he has already been fired from the job. He told that due to strict labor laws in America, Indian employees have been affected more than local employees there. Overall, this layoff by Oracle is becoming a matter of great concern not only for the IT sector in India but globally.