Oracle to announce PeopleSoft job cuts

Software company Oracle could announce job cuts as early as Friday 14 January after the confirmation of its £5.5bn acquisition of rival supplier PeopleSoft.

Harry You, chief financial officer at Oracle, said: “On the personnel front, our goal is to get integration done this month. It would be literally in the next few days.”

Industry analysts have estimated that at least 6,000 jobs may be lost at PeopleSoft. The company ended 2003 with more than 12,000 employees.

Richard Davis, managing director of investment bank Needham, said Oracle is expected to cut 80 per cent of sales jobs and up to 90 per cent of administrative jobs at PeopleSoft, but keep the bulk of its research and development team.

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