Oracle Layoffs 2022: What to Know About ORCL Job Cuts, Hiring Freeze thumbnail

Oracle Layoffs 2022: What to Know About ORCL Job Cuts, Hiring Freeze

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The Oracle (ORCL) sign hangs on an Oracle office in Deerfield, Illinois.

Source: Jonathan Weiss / Shutterstock.com

Oracle (NYSE:ORCL) layoffs are worth checking out on Thursday as investors keep track of companies cutting employees.

Just like many other tech companies, Oracle has also been laying off its workers. The latest round of layoffs from the company saw it cutting 201 workers from its cloud division back in October.

Those layoffs aren’t as major as some would expect considering Oracle Cloud Infrastructure has more than 10,000 employees. Even so, it’s worth noting as recession fears have investors closely watching tech stocks.

While Oracle’s latest layoffs are from October, some investors are expecting more in the near future. That would be too surprising considering that several other tech companies have also been laying people off lately.

Hiring Is Slowing As Well

Insider sources have claimed that Oracle is slowing down adding new people to its workforce. While not an outright hiring freeze, managers at the company have reportedly been given strict restrictions on adding people to the company’s headcount.

This is having the same effect as a hiring freeze and it’s unknown how long it will last. Employees at Oracle are also worried that it means more layoffs are on the way.

ORCL stock is up 3% as of Thursday afternoon but is down 11.5% since the start of the year.

Investors seeking out more of the latest stock market news will want to stick around!

InvestorPlace has all of the most recent stock news traders need to know about on Thursday! Among that is what has shares of Tesla (NASDAQ:TSLA), Veru (NASDAQ:VERU), and Motorsport Games (NASDAQ:MSGM) stock moving today. You can find all of that news from the following links!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.