Oracle to Announce PeopleSoft Layoffs Friday

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Published January 13, 2015

Oracle Corp. (ORCL) will announce layoffs on Friday as a result of its recent acquisition of PeopleSoft, the company said on Tuesday

Oracle's Chief Financial Officer Harry You told Reuters on the sidelines of the Needham & Co. Growth Conference (search) that the layoffs would come on Friday. He would not specify how many jobs would be lost, except to say Oracle will do what makes financial sense.

Industry analysts have estimated at least 6,000 jobs may be lost.

"On the personnel front, our goal is to get integration done this month," he said. "It would be literally in the next few days."

Oracle completed its $10.3 billion purchase of PeopleSoft (search) last Friday.

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