Oracle's Cold 6AM Layoff Emails Hit Staff Amid New Wave of Cuts

Oracle has sent out layoff emails to its employees at 6am, as part of the company's restructuring efforts. The layoffs are expected to cost the company around $2.8 billion. The layoffs are a continuation of Oracle's cost-cutting measures, which were announced in May. The exact number of employees affected by the layoffs is not specified in the article, but it is mentioned that the company has already reduced its workforce by 5,000 employees in the first half of 2023. Oracle's restructuring efforts are expected to save the company around $1 billion annually, with the majority of the savings coming from the reduction in workforce. The company's CEO, Safra Catz, has stated that the layoffs are necessary to ensure the company's long-term success and competitiveness in the market. Oracle has also announced that it will be closing some of its offices and reducing its real estate footprint.