My wife asked, just now, why do we learn about these things on the internet?
I suppose they have to keep it under wraps to protect the almighty shareholder.
It is sad that the shareholder is the one and only concern of modern corporations.
That's why PeopleSoft was sold. The shareholders saw a chance to make a buck. Billions of bucks. This is the reason the housing bubble got so out of control. Big fast return on shareholder investment. What ever happened to taking care of the employee or doing what's right for the company? Or dare I say it what's right for your country?
Corps are legally required to do what is right by the shareholder.
Employees be damned.
Well, good luck everyone...
NEW YORK (Reuters) – Oracle Corp. has trimmed its workforce, but not as much as some people had speculated, The Wall Street Journal reported on Tuesday.
Citing people familiar with the matter, the newspaper said the software giant cut around 500 positions in its North American sales and consulting businesses on Friday.
The Redwood Shores, California-based company had 33,526 employees in the Americas at the end of November and 86,657 globally, the report said.
An Oracle spokeswoman declined to comment to the newspaper and could not immediately be reached by Reuters.
The Journal said the Internet has been buzzing with rumors of cuts of up to 10 percent of the company's workforce, a move that would affect thousands of people. Some analysts have put the number in the hundreds.
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