A leading provider of information technology and cloud services Oracle Corporation (ORCL) provides products and services that meet business information technology environments globally. The stock has gained 9.3% over the past month to close yesterday’s trading session at $70.03.
According to sources, ORCL has considered slashing costs by much to $1 billion and laying off "thousands" of employees as early as August. The job layoffs came only weeks after ORCL completed its $28 billion acquisition of Cerner, which would give the business a stronger position in the healthcare technology industry. According to the company's website, it acquired around 28,000 workers from Cerner as part of the transaction.
