Oracle to cut 5,000 jobs in PeopleSoft merger
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Firm drops the ax in effort to squeeze costs out of its $10.3 billion PeopleSoft buyout. Combined firm will employ 50,000.
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Oracle Corp. ORCL.O said on Thursday  it expects to close its purchase of rival software maker  PeopleSoft Inc. PSFT.O on Friday.
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Oracle Corp. announced today it has signed a definitive merger agreement to acquire PeopleSoft Inc. for approximately $10.3 billion. -AP
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SAN FRANCISCO/NEW YORK: Oracle said on Wednesday it has taken control of PeopleSoft, now that about 75% of shareholders of the rival software maker have tendered their shares.
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US business software giant Oracle said Wednesday it had reached an agreement to take over rival BEA Systems in a 8.5 billion dollar deal.
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Alitalia, Italy&#39;s largest airline, told its union Monday it plans to cut 5,000 jobs, or more than a quarter of its regular workforce, according to published reports.
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Oracle Corp., bidding $8.8 billion for PeopleSoft Inc., will drop a court battle to strike down PeopleSoft&#39;s takeover defenses unless 50 percent of shares are tendered by Nov. 19.
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Oracle Corp. ORCL.O will announce  layoffs at PeopleSoft Inc. on Friday to integrate the recently  acquired company into the world's second-largest business  software maker, Oracle's CFO said on Tuesday.
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Oracle has taken official control of rival PeopleSoft following this week&#39;s decision by PeopleSoft shareholders to tender 75 percent of outstanding stock holdings to the US database and applications giant.
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Software maker Computer Associates  CA.Non Wednesday said it would cut 800 jobs, or 5 percent of  its work force, in one of its biggest cost cutting efforts amid  weaker demand and falling prices for software and services.
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Italy's flagship air carrier Alitalia plans to cut 5,000 jobs as part of restructuring efforts aimed at averting collapse, news reports and an industry source said Monday.
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Alitalia says it will shed 5,000 jobs and spin off non-core operations under a sweeping restructuring plan unveiled to union leaders yesterday.
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WASHINGTON -- Four executives of PeopleSoft Corp. were replaced by officers of Oracle Corp., which is working to complete a $10.3-billion acquisition of its business software rival, according to a regulatory filing Thursday.
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Italy's flagship air carrier Alitalia plans to cut 5,000 jobs as part of restructuring efforts aimed at avoiding collapse, news reports and an industry source said Monday.
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Oracle&#39;s initial tender offer for outstanding PeopleSoft shares has closed, with Oracle accepting 298,834,574 million shares constituting 75% of all PeopleSoft shares.
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Oracle Corp. will fire 5,000 workers in the financial fallout from the business software maker's recently completed &#36;10.3 billion takeover of rival PeopleSoft Inc.
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Sun Microsystems Inc. ,  which has struggled in recent years to remain profitable and  boost revenue, said on Wednesday it would cut as many as 5,000  jobs, or 13 percent of its workforce, over the next six months.