Cloud Computing: Oracle’s Hurd – Sluggish BRICs hurting IT

Reduced demand for information technology has hit the sector like a ton of bricks. Actually, make that BRICs.  "One thing that has hurt IT has been the BRIC countries," Oracle‘s co-president, Mark Hurd, told CNBC on Monday, referring to Brazil, Russia, India and China, which are all deemed to be developing markets for business.

Over the last several years, however, the BRICs had provided considerable demand growth to the IT space, Hurd said.  A recent increase in its sales force has helped Oracle have "good performance" in Europe, Hurd said, but the European market overall has been "flattish at best….