Oracle layoffs have begun, according to reports

Oracle Corp. has begun layoffs, according to multiple reports Monday. Job cuts affecting employees in the Bay Area have started, according to The Information, which also reported last month that the tech giant is planning to slash thousands of jobs as it seeks to shave $1 billion in costs. Some employees in the customer-experience unit were told Monday that their jobs were being eliminated, Bloomberg News reported, citing LinkedIn posts by affected employees. Oracle, which moved its headquarters from Redwood City, Calif., to Austin while retaining many California-based employees, did not immediately respond to MarketWatch's request for comment.

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