US tech giant Oracle is to fire tens of its workers at its Israel R&D center, as part of global headcount cuts, Calcalist reported, without saying where it got the information.
The workers in question come from the Ravello startup the US firm acquired in 2016 for some half a billion dollars and are part of its local R&D center in Israel, Calcalist said. The center employs some 400 workers, 80 of whom stem from Ravello, whose product enables enterprises to use a public cloud as an extension of their data center.
Oracle, which has been active in Israel for more than 20 years, is one of the many multinational companies that have acquired local startups and/or set up R&D centers, technology hubs and accelerators in Israel to tap into the nation’s thriving startup ecosystem.
A spokesperson for Oracle in Israel did not immediately respond to a request for comment. A spokeswoman for Oracle globally told Calcalist that as part of the growth of its cloud business, the firm is continuing to “balance” its resources and reorganize its development groups.