Oracle is laying off more than 900 people in China


U.S. database and cloud computing company Oracle is planning to lay off more than 900 people from its China operations, local news outlets reported, citing an internal announcement Tuesday morning.

The dismissals will primarily come from Oracle’s local research and development base of 1,600 employees, the reports said.The Beijing location will terminate 500 staff, a move seen as a step toward shutting down the center completely, according to Chinese media.

Oracle did not deny or confirm the reports, but said in a statement to CNBC that: “As our cloud business grows, we will continually balance our resources and restructure our development group to help ensure we deliver the best cloud services to our customers in China.”

Reported by MarketWatch