Ax falls on both Oracle, PeopleSoft: 5K jobs lost

Oracle Corp. announced Friday that it would fire about 5,000 employees, the result of the database firm’s hostile takeover of PeopleSoft Inc.

The job cuts, which had been expected to number between 5,000 and 6,000, are being keenly felt on both sides of San Francisco Bay, with workers at Redwood City’s Oracle and Pleasanton’s PeopleSoft getting the ax.

Link: San Francisco Chronicle