Software firm Oracle on Thursday laid off hundreds of employees, rescinded job offers and cut open positions within its healthcare unit, Insider reported, citing three people familiar with the matter.
He layoffs follow thousands of cuts in companies America while businesses struggle with high levels of inflation and rising interest rates.
Oracle’s healthcare unit includes electronic medical records firm Cerner, which it acquired for $28.3 billion, its biggest deal yet, in December last year.
The layoffs were due in large part to Cerner’s challenging work with the US Department of Veterans Affairswho hired Cerner to replace their home medical records with Cerner’s technology, according to the report.
Laid-off employees will receive severance pay equal to four weeks, plus an additional week for each year of service and vacation days pay, the report added.
Oracle did not immediately respond to a Reuters request for comment.
