Unions: Oracle Plans Europe Job Cuts
PARIS -- French unions for the software company Oracle(ORCL Quote) say the company has told them it plans to cut between 850 and 1,000 jobs in Europe in response to slowing growth.
In a joint statement, five of the Redwood Shores, Calif.-based company's French unions said that the company had informed them earlier this week of the plans, which include about 250 job cuts from the company's French workforce of 1,600.
Oracle currently employs 17,000 people in Europe, according to the statement.
The cuts are being made in response to "a forecast of significantly lower growth than what Oracle had expected," as well as to protect the company's operating margin, or profitability, according to the statement posted on the CFDT union's Web site.
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