AUSTIN, Texas — Another big tech company that's headquartered in Austin is cutting jobs.
According to Insider, software company Oracle is cutting employees and rescinding job offers in its health care unit that handles hospital and medical data.
The company hasn't responded to KVUE's request for comment or said how many employees in Austin may be affected. But in an earnings call on Monday, Oracle executives said they would be making "significant changes" to that health care unit because its margins were nowhere close to where they want them to be.
The unit includes electronic medical records firm Cerner, which Oracle acquired in December for $28.3 billion, according to Insider. Its software is used by health care professionals to record and share medical data.
"I'd say we're at the beginning-ish, sort of at the beginning of the middle at most. We've got a long way to go on just operationally and we've got a lot of work going on the development side as we bring our technical capabilities into the product and move them into the Oracle Cloud," Oracle CEO Safra Catz said on the call with investors. "There are a lot of savings as we do that also."
According to KVUE’s media partners at the Austin American-Statesman, dozens of Oracle employees from positions in Cerner, the health unit and federal contracts posted on LinkedIn they were affected by the job cuts.
Oracle recently reported a 17% year-over-year revenue growth on its fourth quarter earnings report, beating expectations.