Oracle Withdraws Job Offer for the Second Consecutive Time
In a perplexing turn of events, Agrawal’s pre-placement offer (PPO) from Oracle has been rescinded for the second time, a situation first occurring in May 2026.
Following the initial revocation, the corporation reinstated the offer in July, promising a commencement date of August 18.
Essential Reading: Tech layoffs 2026: Nearly 40,000 jobs lost in April due to shifting AI priorities.
Agrawal diligently fulfilled all necessary paperwork and completed joining formalities in anticipation of his new role. He even arranged for flight tickets to facilitate his relocation.
However, on August 13 — a mere five days prior to his anticipated start date — Oracle notified him that the offer had once again been withdrawn.
“Re-offered. Revoked again,” Agrawal expressed succinctly in a post on LinkedIn.
A Graduate’s Dilemma: Foregone Opportunities
This situation has been particularly distressing for Agrawal, as he disclosed he had other job prospects during this interval but opted not to pursue them, reassured by Oracle’s purported finality of the offer.
Essential Reading: Oracle layoffs: 21,000 jobs already slashed, with further reductions anticipated before September.
“As a fresh graduate embarking on my career, enduring this level of uncertainty twice has been profoundly challenging,” he articulated.
His LinkedIn post has garnered over 4,000 likes, eliciting a wave of support from users responding to his plea for assistance. Currently, Agrawal is actively seeking positions in software development, software engineering, and AI engineering.
His profile indicates a three-month internship at Oracle, which occurred between May and July, and he proudly holds a BTech degree in Electrical Engineering from the Motilal Nehru National Institute of Technology.
Oracle Faces Scrutiny Over AI Expenditure
According to a report from Business Insider, Oracle is poised to enact yet another round of layoffs this month as part of an effort to curtail payroll expenses prior to the commencement of its second quarter on September 1.
This comes on the heels of a significant 13% workforce reduction, amounting to 21,000 employees, leaving approximately 141,000 staff members.
Meanwhile, Oracle’s expenditures on infrastructure have reached a staggering $55.7 billion, surpassing cash generation by $23.7 billion.
To facilitate expansion efforts, Oracle has amassed $48 billion through debt and stock offerings in fiscal 2026, with plans to secure an additional $40 billion in the current fiscal year.
Despite strong demand, which propelled overall revenue growth by 17% and an astounding 77% increase in cloud infrastructure sales, exorbitant spending has exerted pressure on costs, resulting in a nearly 26% depreciation of Oracle’s stock this year.
Although Oracle has refrained from providing any formal rationale for the withdrawal of Agrawal’s offer, the decision may be linked to ongoing cost-reduction initiatives. Nevertheless, Agrawal remains resolute in his pursuit of career opportunities.
In a show of determination, he stated, “Starting again, but not giving up,” appealing to recruiters and industry professionals for support in securing a new role as he endeavours to launch his career.
Source link: Businesstoday.in.
