Monday, February 13, 2006
Oracle axes 2,000 employees, Nexus
Oracle axes 2,000 employees, Nexus: "One week after Siebel Systems Inc.'s shareholders accepted its $5.85 billion takeover offer, Oracle Corp. issued financial guidance and layoff plans yesterday.
Oracle will lay off 2,000 employees, but will keep 90% of Siebel's product development, product support and sales team, officials said on a Webcast conference call. The best performing CRM salespeople at Oracle will join Siebel's sales team to become a separate CRM sales force within Oracle. A majority of the layoffs will come from the Oracle side of the combined companies. "
Oracle will lay off 2,000 employees, but will keep 90% of Siebel's product development, product support and sales team, officials said on a Webcast conference call. The best performing CRM salespeople at Oracle will join Siebel's sales team to become a separate CRM sales force within Oracle. A majority of the layoffs will come from the Oracle side of the combined companies. "
