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Layoffs Hit Oracle’s Health Unit
Oracle may be on a tear, but that doesn’t mean its health unit is, with the company laying off hundreds and rescinding job offers.
Oracle bet big on health, purchasing medical records giant Cerner for $28 billion last year. According to Business Insider, Oracle Health laid off hundreds of employees Thursday, rescinded existing job offers, and eliminated some open positions.
Insider’s sources say laid-off employees will receive four weeks severance pay, as well as an additional week for every week of employment. Vacation days will also be paid out.
The impetus for the layoffs appears to be issues with Cerner’s contract with the US Department of Veterans Affairs, where unexpected issues have hampered rollout of the company’s platform. The issues were severe enough to trigger a contract renegotiation, one that will hold Cerner more accountable for issues and that led to less work for the company than previously anticipated.
Layoffs Hit Oracle’s Health Unit
Matt Milano
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