Oracle to lay off 5000 workers
Oracle said that the integration of PeopleSoft into ist business is "proceeding on schedule". After completion the company will employee aboyt 50,000 people which translates into a workforce reduction of 5000 employees. According to an announcement released late Friday, Oracle will retain at least 90 percent of PeopleSoft’s product development and product support staff.
The PeopleSoft development team also will finish the development and deployment of PeopleSoft version 8.9, and then begin development of the next upgrade to PeopleSoft products, version 9.0.
Oracle completed its acquisition of PeopleSoft on January 7, 2005. (THG)
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