[0:00]We have made the decision to eliminate your role as part of broader organizational change. As a result, today is your last working day. On the morning of April 1st, Oracle company's HR department sent this email at 6 am to 30,000 employees worldwide. No, this was not an April Fool's joke. Oracle fired 30,000 employees at once, including 12,000 employees from India. Earlier, many other companies had done this, but at that time, they at least gave notice. Oracle did not even do that. But why did 30,000 people lose their jobs at the same time? Why did Oracle face this situation? And what is this increasing lay-off issue day by day? Let's find out through this video. Hello, I am Aniket, and you are watching Bol Bhidu. Now let's first see what this Oracle company does, which has fired 30,000 employees. Oracle is one of the top tech companies in the world.
[1:09]Oracle company provides database software to banks and large companies to secure and store their data. This company, founded by Larry Ellison in 1977, is today the second largest company in the software industry after Microsoft. The Java language used in coding was also created by this company. This company currently provides a new cloud service to a large extent. But Oracle cannot compete with Amazon and Google yet. The main reason for this is that Oracle is running short of data centers. Now, building these data centers costs a lot of money. It costs millions of dollars to buy each chip. But Oracle showed readiness to spend this money and announced an investment of 165 billion dollars a month ago to move itself forward in the AI race. Now, after this announcement, Bloomberg, a news agency, published a report a few days later, in which it was stated that Oracle company would fire thousands of its employees without any prior notice to restructure the company. After this report, Oracle fired employees within 15 to 25 days. Bloomberg also said that employees would be directly emailed without any meeting while firing them. And that's what happened. After employees received the email on the morning of April 1st, their laptops were locked within minutes, and employees' access to the company's server, VPN, and Slack was blocked. The company laid off 30,000 employees in this layoff. This number is 80% of Oracle's total employees. But almost 40% of these employees are from India alone. 12,000 IT professionals working in Bangalore, Pune, Gurugram, and Hyderabad have been laid off from Oracle. At this time, the company has given employees a severance package, which includes one month's notice period salary, two months' top-up salary, and 15 days' salary for each year worked. But for that, each employee has to do a DocuSign within 15 days, which means accepting all terms and conditions and sending a digital signature to the company.
[3:20]The company has said in this email that they will not get paid otherwise. Earlier, jobs in the IT sector were called settled jobs. Huge packages, cars for commuting, expensive office parties, all these facilities were provided by these IT companies to their employees. That is why in the last few years, many youths had chosen the IT sector for their careers. But today, due to AI, jobs in this sector are at risk. Now, every IT company is using AI tools instead of human engineers for software coding and testing.
[4:10]Therefore, Oracle's AI is fulfilling the company's need for coding engineers. Earlier, thousands of engineers were needed for database management, patching, and security updates. That work is now being done by Oracle's AI-powered self-driving database. Oracle AI's chatbots are working for customer support. Therefore, expert engineers are no longer needed to solve customers' problems. Earlier, thousands of employees used to do data analysis, but now AI finds accurate documents from millions of records in a few seconds. The 30,000 employees Oracle has laid off are mostly from the support and maintenance departments. But in the future, the company can also lay off software developers by giving their work to AI. This layoff by Oracle is not new in this field.
[5:17]But these layoffs are indicative of working by adapting traditional methods with AI. According to experts, not only in the IT sector, but in every sector, there can be much larger layoffs.
[5:33]Therefore, it is necessary to study AI technology to survive in these jobs. What do you think about these layoffs made by Oracle? Do tell us your opinions and reactions by commenting, and for informative videos, do subscribe to Bol Bhidu's YouTube channel.
