SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) January 14, 2005
(Exact name of Registrant as Specified in its Charter)
(State or Other Jurisdiction
|(Commission File Number)
|500 Oracle Parkway, Redwood City, California
|(Address of Principal Executive Offices)
Registrants telephone number, including area code (650) 506-7000
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
|Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Section 2 - Financial Information
Item 2.05 Costs Associated with Exit or Disposal Activities
On January 14, 2005, Oracle Corporation, a Delaware corporation (Oracle), announced that as part of its PeopleSoft integration plan (the Plan), it will be reducing the size of its combined workforce by approximately 5,000. This number does not include employees who have been or will be offered positions with the combined company and do not accept such offers. The objectives of the Plan are to eliminate redundant costs resulting from the acquisition of PeopleSoft and improve efficiencies in operations. A majority of notifications to employees is expected to be completed by January 24, 2005 and all of the reductions are expected to be completed by December 31, 2005. Oracle anticipates its combined workforce will be approximately 50,000 employees once the Plan is completed.
Oracle has determined in good faith that it is presently unable to make an estimate of the costs to be incurred in connection with the Plan.
In addition to historical information, this Current Report on Form 8-K contains forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. These statements involve risks and uncertainties that could cause our actual results to differ materially from the future results expressed or implied by the forward-looking statements. All statements other than statements of historical facts included in this Current Report on Form 8-K, including statements regarding the Companys future financial position and results, are forward-looking statements. All information set forth herein is current as of the date of this Current Report on Form 8-K. Oracle undertakes no duty to update any statement in light of new information or future events. For further information regarding risks and uncertainties associated with Oracles business, please refer to the Risk Factors section of Oracle Corporations SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q.
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|Dated: January 21, 2005
/s/ Harry You
|Name: Harry You
Title: Executive Vice President
and Chief Financial Officer