Oracle Cuts 400 Jobs: Computer software maker...
From Times Staff and Wire Reports
Oracle Cuts 400 Jobs: Computer software maker Oracle Corp., responding to its first-ever quarterly loss, laid off 400 people--about 10% of its domestic work force--in a major reorganization. The Redwood City, Calif.-based company, which sells relational database software, said the cuts were made to bring costs in line with lower growth expectations. Oracle also announced the resignation of its chief financial officer.
