Oracle Avoids New Hires from SF, NYC, and Seattle

Morning, everyone!Happy Tuesday! Avery Hartmans is your host.

All eyes are on the tech giants today as we kick off a big week of earnings that could either be a pleasant surprise for Wall Street — or a harbinger of tough times ahead. 

Some tech companies have already begun to tighten their belts. Oracle is one example. It has a new cost-cutting directive. Avoid new hires who are based in San Francisco or Seattle.sourcing candidates from lower-cost regions in the US and overseas. It’s part the cloud giant’s plan for lowering labor costs. According to insiders, this is starting hurt morale.

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1. Oracle has stopped hiring job-seekers in tech hubs.Oracle has changed its hiring policy to exclude candidates from cities such as San Francisco, Seattle, New York, and Chicago in an effort to cut costs and save money. These guidelines are among other hiring restrictions at the cloud giant that employees claim are unfair. Additional tanking of already low morale

• A senior Oracle executive instructed hiring managers and recruiters to seek out talent outside of major US tech hubs, in the hopes of finding employees with lower salaries and lower living costs. 
• Some hiring managers are asked to replace US-based jobs with Eastern European applicants in order to save money. 
• Oracle wants to reduce its costs by $1Billion. In fact, it has already experienced two rounds of layoffs over the past few months. Employees are worried about more cuts. 

The latest Oracle hiring restrictions.

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8. How it feels to be a TikTok moderator.According to a report by TikTok, moderators were described as scrolling through videos showing child abuse and gun violence. They were also required to keep their webcams active all night while they worked. Moderators claim they are paid $10 per day for their work. You can read more about their experiences here. 

Odds and ends

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What we are currently watching:

• Today, earnings are reported by Alphabet and Microsoft.

Check out this site to stay up-to-date with all the latest tech news throughout the day.Insider RefreshA dynamic audio news brief is available from Insider. Listen here.

Avery Hartmans of New York curated this collection. (Feedback or tips Email ahartmans@insider.comTweet @averyhartmans.) Edited and tweeted by Hallam Bullock @hallam_bullock) in London.