Oracle Corporation will shed about 900 employers in its China Development Center in an effort to restructure, 21st Century Business Herald reported.
The company announced the decision in a teleconference, saying it’s a global level business restructuring.
The number is equivalent to about 60% of current CDC staff, the report said. Of the 900 employers, more than 500 will be let go from its CDC Beijing office.
Those staying will involve the areas of data base products and middleware products. Researchers for the company’s cloud computing business are also on the layoff list, the report said.
The report said it’s known internally that the CDC will eventually be closed and a second round of downsizing could start as early as July. Part of the CDC’s business will be passed to other regions.
Oracle has started one on one discussions with the impacted employees across China, and staff on the layoff list may get a compensation package of “N+6” if they accept the compensation deal before May 22.