Suspending operation in Russia
In February 2022, Oracle Corporation (Oracle) announced that its Russian Federation operations were suspended. Additionally, it explained that neither the Russian Federation nor Ukraine has composed or is expected compose a material portion of its total consolidated revenues, net income, net assets or workforce. Oracle serves hundreds of thousands of customers globally across a broad geographic and industry base. Furthermore, it states that it is profitable and generates a large amount of positive cash flow from its operations, and it does not believe that the Russia-Ukraine situation will jeopardize either of these characteristics.
Balance Sheet|Labor|New Activity|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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