Right now there is no shortage of news focused on companies slashing jobs in the wake of the global Coronavirus pandemic. From airlines to hotels, the need to pause on growth and plan for a very different marketplace has C-suites and investors frozen globally.
But, Oracle - which will announce its earnings after the bell on a very turbulent March 12 - began cutting jobs in Q4.
From their peak in the beginning of the fourth quarter, Oracle ($ORCL) job postings fell more than 20%, according to our data. It's not atypical for any company (especially Oracle, which has reduced job postings toward the end of prior years) to make a move like this to recalibrate spending and fiscal planning - but it's much more substantial than prior years' job posting declines.
While plenty of industries have been forced to cut job openings and reassess their plans in the wake of the global Coronavirus pandemic, the technology industry has proven resilient, and companies including Amazon and Tesla have sought to bulk up on the hiring front - at least, for now.
Oracle is looking for EPS of $0.86, a year-over-year increase, according to analysts tracked by Zacks Investment Research. Shares are down nearly 24% in 2020.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.
Further Reading:
- Travel booking sites see social mentions plummet amid Coronavirus outbreak
- Coronavirus puts cleanliness - and Clorox - center stage on social media
- Jobs in China tumble in wake of virus fears
