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Oracle's PeopleSoft applications are designed to address the most complex business requirements. They provide comprehensive business and industry solutions, enabling organizations to increase productivity, accelerate business performance, and provide a lower cost of ownership.
In December 2004, Oracle announced that it had signed a definitive merger agreement to acquire PeopleSoft for approximately $10.3 billion. A month after the acquisition of PeopleSoft, Oracle cut over half of PeopleSoft's workforce, laying off 6,000 of PeopleSoft's 11,000 employees. [7]