Sounds about right
Cloud is a nebulous thing and does not require the touting activities of a massive army of sales droids.
Oracle is restructuring sales to make more money from cloud, with industry chat claiming layoffs are expected after the end of this month. From Oracle’s new fiscal year, starting June 1, each Oracle customer will have a single account manager – instead of multiple managers for each Oracle product they use. The re-org has been …
They were very late to cloud, slow to provide easy-to-use cloud management services/UIs, silo'd staff, repeatedly failed to plan and invest in managed organic re-skilling of existing/takeover staff, for wasted years, so must now rush to try and recruit/pinch already skilled staff, and waste yet more on avoidable redundancies.
I doubt that this (I assume) panicked, further management restructure to cloud will save Oracle from continued decline, because the management still don't seem to get that Cloud is a commodity service with a lot of aggressive competition, so requires finer grained prices with much thinner margins than they were used to, with probably declining customers and revenue until new customers can see real competitiveness!