posted on Jan, 15 2005 @ 02:24 AM
After last week's conclusion of an 18 month fight, Oracle has successfully bought out Peoplesoft. The merging of the two business-planning software
companies has yielded a small jump in Oracle stock and is expected to make Oracle more competitive in years to come. On the down side, Oracle has laid
off about 5000 people, or 9% of Peoplesoft's workforce.
SAN FRANCISCO (Reuters) - Oracle Corp. (Nasdaq:ORCL - news) will cut 5,000 jobs as it combines with PeopleSoft Inc., the business software rival it
acquired for $10.3 billion after a bitterly fought takeover battle, the company said on Friday
The ongoing support of PeopleSoft products -- used by companies to manage payroll, human resources and manufacturing operations -- was a point of
contention during the 18-month takeover battle, with many high-profile customers fearing they would be left hanging.
On Thursday, Oracle, the largest private employer, told the town's administrator that about 900 of the city's 3,500 PeopleSoft employees will
eventually be let go, though the company eventually may expand again, said Nelson Fialho, the city manager.
Please visit the link provided for the complete story.
I suppose you could say "that's just business", but it's hard to get past the unpleasantry of the idea. The growing world economy means bigger
competition and bigger companies. That means less redundancy in human resources spending, otherwise known as fewer jobs. As I said though, that's
business; the only way around it would be to boost efficiency by instituting slavery.
[edit on 16-1-2005 by Banshee]