Stored Procedure Help

I am attempting to make a store procedure that will loop over the data in my table and prepend some zeros to one columns value, convert it to a varchar and then insert the new value in another table. Upon running the script I created, my client(Toad) ends up just hanging and I eventually end up just ending the task on it. The record set I am looping over has 23,411 records, is the procedure just inefficient for that many rows or is their a flaw in the syntax I used in creating it?

CREATE OR REPLACE procedure SP_SLB_SAPMERGE AS

• Cursor for SAP Org Numbers CURSOR SAPORG IS SELECT A.NO_EMP, A.NO_EMP_NUSER3 FROM EMPLOYEES_DTL A, EMPLOYEES B WHERE A.NO_EMP_NUSER3 IS NOT NULL AND A.NO_EMP = B.NO_EMP AND B.NM_LST_UPDT != 'EGATE';
• For New Org Code SAPORG_NEW VARCHAR2(10);

	   BEGIN
	   	FOR i IN SAPORG LOOP
		   IF LENGTH(i.NO_EMP_NUSER3) = 1 THEN
		     SAPORG_NEW := '0000000' || to_char(i.NO_EMP_NUSER3);
		   ELSIF LENGTH(i.NO_EMP_NUSER3) = 2 THEN
		     SAPORG_NEW := '000000' || to_char(i.NO_EMP_NUSER3);
		   ELSIF LENGTH(i.NO_EMP_NUSER3) = 3 THEN
		     SAPORG_NEW := '00000' || to_char(i.NO_EMP_NUSER3);
		   ELSIF LENGTH(i.NO_EMP_NUSER3) = 4 THEN
		     SAPORG_NEW := '0000' || to_char(i.NO_EMP_NUSER3);
		   ELSIF LENGTH(i.NO_EMP_NUSER3) = 5 THEN
		     SAPORG_NEW := '000' || to_char(i.NO_EMP_NUSER3);
		   ELSIF LENGTH(i.NO_EMP_NUSER3) = 6 THEN
		     SAPORG_NEW := '00' || to_char(i.NO_EMP_NUSER3);
		   ELSIF LENGTH(i.NO_EMP_NUSER3) = 7 THEN
		     SAPORG_NEW := '0' || to_char(i.NO_EMP_NUSER3);
		   ELSIF LENGTH(i.NO_EMP_NUSER3) = 8 THEN
		     SAPORG_NEW := to_char(i.NO_EMP_NUSER3);
		   END IF;
			
                   -- UPDATE Employees Table
		   UPDATE EMPLOYEES
		   SET CD_LOC = SAPORG_NEW
		   WHERE NO_EMP = i.NO_EMP;

		 END LOOP;
		 COMMIT;