It is reported that more than 200 Dublin staff at technology giant Oracle could face job cuts as the company plans for restructuring across Europe.
Enterprise software company Oracle has informed staff of its plans to cut as many as 1,300 jobs across Europe. It said that Dublin will likely be among the regions impacted by the cuts, as well as Amsterdam and Malaga.
Oracle currently employs more than 1,400 at its Dublin office and, according to the Irish Independent, more than 200 jobs there could be in jeopardy. When employees were asked to attend a site-wide meeting on Wednesday (4 March), they were told that cuts will affect roles in sales, business development and solutions engineering.
Staff were also informed that the company will be restructuring and that employees should apply for other internal roles created as a result.
A spokesperson for the company said: “As our cloud business grows, we will continually balance our resources and restructure our teams to help ensure we have the right people delivering the best cloud products to our customers around the world.”
In 2016, Oracle announced plans to create 450 new jobs at its Dublin offices, which are located in the EastPoint Business Park.
‘Struggle to increase revenue’
Oracle was founded by Larry Ellison, Ed Oates and Bob Milner in 1977 and is now led by CEO Safra Catz. Since then, the company has amassed a market cap of more than $160bn with more than 400,000 customers worldwide.
The company had a disappointing end to 2019 after its second-quarter revenue – which came in at $9.61bn with a drop of 7pc in its licensing services – fell short of analyst expectations.
In December, MarketWatch said that the technology giant is facing a “struggle to increase revenue”, reporting that the company saw promising earnings figure early in 2019 but came up short on revenue “where it has struggled for years”.
“We have complete confidence in our existing management team,” Ellison, who acts as Oracle chair, said at the time. “We’re doing a lot of recruiting – you’ll see a lot of announcements at the next layer down, we’re hiring a bunch of people the next layer down, who are potential CEOs when both Safra and I retire, which is not anytime soon.”