American multinational computer technology corporation Oracle plans to lay off dozens of Ravello employees in Israel.
Oracle acquired Ravello, which develops cloud computing solutions, in 2016, for $500 million. Ravello's development center in Israel has 70 to 80 employees, more than half of whom have already been informed of the move.
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According to a Tuesday report in financial daily Globes, last month, Oracle closed its Tel Aviv-based accelerator after two years of operations.
Oracle launched a worldwide wave of layoffs earlier this year, firing thousands of employees. The move is expected to amount to up to 10% of the company's global staff.
Oracle employs 400 people in Israel, in facilities in Tel Aviv, Petach Tikva, Raanana, and Beersheba. Ravello is based in Raanana.
