Oracle Corp. is reportedly slowing its hiring, particularly in the Bay Area and Seattle, as it cuts jobs.
Hiring managers at the enterprise software giant have been asked to push back start dates for new recruits as hiring in general has been slashed, according to a report from Business Insider.
Some units that hiring for backfilled or critical positions have been told to avoid bringing on people in top talent areas where pay is high, like the Bay Area, Business Insider reported. They are being told to hire candidates in areas where they can pay lower salaries, including in Eastern Europe, the report said, citing company insiders and a recruiter.
Oracle shifted its headquarters to Austin, Texas, from the Redwood Shores are of Redwood City in December 2020, but Business Journal research showed it still had about 7,000 workers in the Bay Area last year. It recently told the state that it cut 210 workers in Redwood City and Belmont this month.
The company said it isn't closing its Redwood Shores offices as part of its reorganization, but Business Insider reports that the hiring slowdown has Oracle workers on edge. The Information reported in July that Oracle (NYSE:ORCL) was considering $1 billion in cost reductions that could result in thousands of job cuts.
One factor in Oracle's actions may be the $28.3 billion acquisition of the healthcare-tech giant Cerner that it closed in June.
"They just spent a lot of money on Cerner — somewhere along the way they need to tighten the belt to recoup," Business Insider said it was told by an Oracle recruiter.
https://www.bizjournals.com/sanjose/news/2022/10/20/oracle-hiring-slowdown-hikes-fears-of-deeper-cuts.html