India appears to be among the worst-hit markets, with reports indicating that nearly 12,000 employees may have been laid off out of a workforce of around 30,000.

American technology major Oracle Corporation’s decision to part ways with 30,000 employees globally—almost 19% of its total workforce—has sent shockwaves through the organization.

Employees are understood to have received termination emails informing them that their roles had been eliminated as part of organisational restructuring, with some accounts indicating that notificatio...