In a startling development, Oracle has laid off 30,000 employees, sparking widespread anxiety across the IT sector. However, an HR expert explains that the situation is not as dire as it seems, and hiring is still happening elsewhere.
According to the expert, the primary reason for Oracle's massive layoffs is geopolitical instability. With major operations in the US and Gulf regions affected by ongoing war situations, business has slowed down, leaving the company unable to sustain its workforce. "It's not because the IT industry is dying, and not because freshers are unskilled," the expert clarifies. "When there's no business, you can't manage employees."
Amid the panic, the expert highlights a contrasting example: Deloitte has announced a significant hiring drive for fresh graduates. "Deloitte is a big brand. If they wanted layoffs, they wouldn't announce fresher hiring," the expert notes, underscoring that both layoffs and hiring are happening simultaneously.
The key takeaway: Every coin has two sides. While Oracle's cuts are painful, other companies are expanding their teams, and the job market remains dynamic.
Both sides exist – layoffs are scary, but hiring is also happening.
This balanced perspective aims to calm fears and encourage job seekers to upskill and stay industry-ready. The expert advises focusing on learning Data Science, AI, Cloud, and other future-ready technologies to remain competitive.