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REDWOOD SHORES, Calif.,
14-JAN-2005 02:00 PM
Oracle Corp. today announced that its PeopleSoft integration plan is proceeding on schedule and that it will be reducing the size of its combined workforce to 50,000, a reduction of approximately 5,000. Notifications at PeopleSoft and Oracle began today and a majority will be completed over the next ten days.
Oracle plans to retain over 90 percent of PeopleSoft product development and product support staff. The PeopleSoft development team will finish the development and deployment of PeopleSoft version 8.9, and then begin development of the next upgrade to PeopleSoft products, version 9.0. The PeopleSoft support teams, with the assistance of the Oracle support organization, will continue to support PeopleSoft customers around the world.
"By retaining the vast majority of PeopleSoft technical staff, Oracle will have the resources to deliver on the development and support commitments we have made to PeopleSoft customers over the last 18 months," said Oracle CEO Larry Ellison.
Detailed information about Oracle's applications organization, product plans, and go-to-market strategies will be presented to customers and partners next week at the launch of the combined applications business.
Oracle completed its acquisition of PeopleSoft on Jan. 7, 2005, following the completion of a tender offer in which more than 97 percent of PeopleSoft's shareholders tendered their stock.
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