Update: Oracle begins cutting 5,000 jobs following PeopleSoft takeover
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Oracle will eliminate about 5,000 jobs following its $10.3 billion acquisition of PeopleSoft, the company said Friday.
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The bruising takeover battle is over. The blood-letting of 5,000 layoffs has started. Now comes the "soft" sell -- Oracle's strategic sweet talk to convince customers of the benefits of its acquisition of business-software rival PeopleSoft.
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Marsh &amp; McLennan Cos., the world&#39;s largest insurer, announced a five-per-cent cut to its workforce on Tuesday, in hand with a big decline in its third-quarter results.
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PeopleSoft Corp. (PSFT.O: Quote, Profile, Research) fired its chief executive Craig Conway on Friday just hours before US antitrust
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Oracle Corp. on Monday said it  asked Peoplesoft Inc.'s board of directors to rescind an  anti-takeover provision, two days after a majority of  PeopleSoft shareholders tendered their stock in favor of  Oracle's $9.2 billion hostile offer.
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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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Oracle Corp.  will cut 5,000 jobs as it combines with PeopleSoft Inc., the business software rival it acquired for &#36;10.3 billion after a bitterly fought takeover battle, the company said on Friday.
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Oracle Corp.  has replaced PeopleSoft Inc.'s  co-presidents, after taking control of the rival software maker earlier this week, according to a regulatory filing.
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Yesterday, Oracle said 75 percent of PeopleSoft shareholders tendered their shares. That officially puts Oracle in charge, moving it closer to closing the contentious $10.3 billion deal.
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General Motors Europe will slash its workforce by around a fifth, cutting as many as 12,000 jobs in a bid to halt chronic losses in the region, the world's biggest carmaker said on Thursday.
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PeopleSoft Inc.  on Tuesday said Chief Executive and Chairman Dave Duffield has resigned from the business software maker, which agreed to a &#36;10.3 billion buyout by rival Oracle Corp.  earlier this month.
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Oracle Corp. said Monday it will drop a lawsuit it filed in Delaware against PeopleSoft, its rival and takeover target, if a majority of PeopleSoft
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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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Four executives of PeopleSoft Corp. were replaced by officers of Oracle Corp., which is working to complete a &#36;10.3-billion acquisition of its business software rival, according to a regulatory filing Thursday.
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Computer Associates will cut 800 jobs,  the software maker said on Wednesday, reducing its work force 5  percent in its biggest cost-cutting effort since 2001 amid  slack demand and falling prices for software and services.
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OracleÂ will eliminate about 5,000 jobs following its $10.3 billion acquisition of PeopleSoft, the company said Friday.ADVERTISEMENTWhite paper: Solutions to Address IT Control RequirementsLearn how BMC Software Solutions address requirements such as the Sarbanes-Oxley Section 404 in this 20 page whitepaper!
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NEW YORK: PeopleSoft yesterday sacked Chief Executive and president Craig Conway, citing a loss of confidence, and the software company&#39;s shares jumped on expectations that the move could pave the way for a deal with hostile bidder Oracle.