Oracle prunes staff cost

By siliconindia   |   Wednesday, 24 December 2008, 19:38 IST   |    11 Comments
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Mumbai: Oracle Financial Services Software is now taking various steps to cut down its employee costs. The company has been trimming its costs and manpower after its acquisition of i-flex last year and as a result of the current global scenario. The employees on the bench will be given only 50 percent of their salary and have been asked to work for fewer hours a day. An employee working with the firm said that even management graduates, who had joined in November would be given a part of their salary, around 40 percent of the Rs 4.4 lakh pay package that they are entitled to, for December, January and February, reported Economic Times. Presently, the company employs around 11,000 people.