PeopleSoft lay-offs scheduled for Friday - 50 per cent of headcount to go?

MyCustomer.com

The pink slips are set to be handed out at PeopleSoft on Friday as Oracle moves quickly to axe redundant personnel from its acquired subsidiary.

"On the personnel front, our goal is to get integration done this month," said Oracle Chief Financial Officer Harry You. "It would be literally in the next few days."

You would not specify how many jobs would be lost, but industry analysts have estimated at least 6,000 jobs may go, almost half its headcount. Oracle is expected to cut 80% of sales jobs and up to 90% of administrative jobs at PeopleSoft, but keep the bulk of its research and development team.

You added that there would bean overhaul of PeopleSoft's sales processes. While Oracle makes 40 per cent of its revenue and earnings during the last month of the quarter, according to You PeopleSoft gets 80 per cent of its licence revenue on the last day of the quarter. This last minute rush to close deals leads typically leads to discounting from the list price.

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