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Employees across the US, India, Canada, Mexico, and other countries received termination emails from "Oracle Leadership" at approximately 6 a.m. local time, with no prior warning from HR or their direct managers. The emails informed employees that their roles had been eliminated as part of a broader organizational change, and that the day of the email was their final working day.
The contradiction at the heart of the Oracle story is stark. The company posted a 95% jump in net income last quarter, reaching $6.13 billion, and its remaining performance obligations stood at $523 billion, up 433% year over year.