Zhitong Finance App learned that according to internal documents and several people familiar with the matter, Oracle (ORCL.US) is preparing a new round of layoffs to reduce employee costs. The layoffs for some teams may reach double-digit percentages. The company has asked management to submit a list of affected employees, with the goal of completing cost reduction before the second fiscal quarter begins on September 1.

Zhitong Finance App learned that according to internal documents and several people familiar with the matter, Oracle (ORCL.US) is preparing a new round of layoffs to reduce employee costs. The layoffs for some teams may reach double-digit percentages. The company has asked management to submit a list of affected employees, with the goal of completing cost reduction before the second fiscal quarter begins on September 1.