Oracle welcomes Siebel staff with 2,000 job cuts
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Posted in Financial News, 9th February 2006 20:06 GMT
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Update Oracle will layoff 2,000 staffers as it works to bring Siebel Systems on board.
The workers will be trimmed from both the Oracle and Siebel sides of the house, although Oracle workers will face the "majority" of the cuts, according to Oracle CEO Larry Ellison. Close to 10 per cent of the workers from Siebel's support, sales and development groups will be let go.
All told, Oracle will end up with about 55,000 employees. It closed the $5.85bn buy of Siebel last week.
Aside from the cuts, Oracle announced that it expects third and fourth quarter results to be inline with analysts' expectations. The database maker - er, applications vendor - sees third quarter revenue coming in between $3.45bn and $3.50bn and fourth quarter revenue ranging between $4.39bn and $4.55bn. ®
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