Oracle could lay off between 850 to 1,000 European employees, according to the French union CFDT. The news will come as a shock to European employees as Oracle Europe's performance was singled for particular praise after the latest quarterly results.
The European Works Council and the Comité d'Entreprise France were notified by Oracle that between 850 and 1,000 jobs could go according to the union's website. Oracle employs 1,600 in France and 17,000 in Europe, the union said. Oracle had no comment, a company spokeswoman for Oracle Europe said.
The union said it has been informed by the company of plans to cut workers due to forecasts that growth in Europe would be slower than expected, according to the CFDT.
That somewhat goes against comments made by the company when it reported its latest quarterly results. Oracle said it was especially pleased with its results in Europe and highlighted 5 percent growth in the company's applications business. However, revenues in Europe, Middle East and Africa region dropped US$266 million, ending up at US$2.4 billion.