The completion of Oracle's $10.3bn takeover of Peoplesoft has been followed by the announcement of 5,000 job losses, this equals 9% of the workforce. Oracle said that 90% of Peoplesoft product development and product support staff would be kept on.
Oracle shares rose 15 cents - 1.1% on the Nasdaq after the statement was released.
"We're mourning the passing of a great company," Peoplesoft worker David Ogden told the AP.
"By retaining the vast majority of Peoplesoft technical staff, we will have the resources to deliver on the development and support commitments we have made to Peoplesoft customers over the last 18 months," chief executive Larry Ellison said.
