Oracle Announces 5,000 Job Cuts

January 18, 2005

UPDATED: A chapter in PeopleSoft's history is closing as Oracle moves forward with its takeover and layoff plans. Workers expect pink slips tucked in FedEx boxes to arrive on their doorsteps this weekend.

Some 5,000 Oracle (Quote, Chart) employees (including former PeopleSoft employees) will be let go, according to a company official. Some received notices today, but it could take 10 days until all workers know their fates.

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