Behind a paywall: https://www.businessinsider.com/larry-ellison-explains-oracle-ongoing-restructuring-2019-6
Key takeaways:
"Oracle has been conducting rolling layoffs worldwide since March, impacting all sorts of business units within the company, including its all-important cloud divisions. While the company has publicly acknowledged the layoffs, management hasn't discussed details like how many jobs will be cut or when the restructuring will end."
"Still, on Wednesday, after Oracle reported its fiscal 2019 Q4 earnings, founder, chairman and CTO Larry Ellison gave some insight into what's going on, saying that some of Oracle's businesses 'are melting away and we just don't care. We are focused on our star products and our star products are now driving our top line higher.' "
"So, while he admitted that Oracle's overall growth has been modest — annual revenues increased 2% — "underneath that, there's really a lot of activity, you have these very, these modern businesses like the autonomous database, Fusion, NetSuite growing very rapidly, taking share," he said."
"Despite the layoffs, Oracle says it is hiring globally. A spokesperson tells Business Insider, 'Every year Oracle hires tens of thousands of employees and we are currently hiring globally and in every line of business, including OCI Gen2. Enabling our customers' success has always been a top priority for Oracle. We are laser-focused on delivering the best cloud products that drive efficiencies, fuel innovation and impact the bottom line for our customers around the world.' "