Oracle news layoffs
“I don’t know if it is so much reductions,” he said on “Squawk Alley” on Thursday. “I think it is the reapplication of that talent to different opportunities to the customer.”
Oracle’s customers have to do so much work and so many different configurations of technology that use up a lot of labor, he said.
“The opportunity we have is to now do a lot of that work for the customer,” he said. “They can reapply that budget, that manpower and that talent to things that help the company gain market share, to help the customer deliver better service to their customers.”
More than 80 percent of Oracle’s customers’ budgets are used just to keep existing systems running, he said.
“It isn’t just a displacement, it’s a reapplication of that spending and that talent to higher order tasks,” he added….