After Oracle's takeover of PeopleSoft, Oracle CEO Larry Ellison today outlined the companies' product strategy and vision. The company reaffirmed its commitment to continue to support PeopleSoft product lines until 2013 and release PeopleSoft Enterprise 9.0.
Industry analysts are not so sure.
"It's still not clear to me how, with so large a reduction in the work force, they're going to be able to continue to deliver the same level of service to PeopleSoft's customers," said Mark Smith, the chief executive of Ventana Research, a research firm in Silicon Valley.
Oracle will lay off approximately 5,000 people from PeopleSoft, about 10 percent of it's workforce. Ellison however was upbeat in outlining the companies future.
"By retaining over 90 percent of PeopleSoft's development and support organization we can deliver on our commitment to all of our applications customers," Ellison said.
Ellison also announced "Project Fusion," the company's next-generation information- oriented application architecture that will combine the best features and functions of Oracle's applications with those of PeopleSoft and JD Edwards.
"Our greatly expanded development team, will focus our resources on creating next generation information-oriented applications based completely on industry standards," Ellison said.