I just got the call this AM that “my position has been eliminated”. I’m still in shock so the .pdf explaining my package is all gobbledygook to me (I’m also neuro divergent so that prob factors in) I have 6 yrs at Oracle
Someone explain how severance pkg works pls 🙏 in simple understandable terms
Is that 26 weeks for severance only, but still get accrued vacation? Unused sick time?
That other 6 weeks would be nice to receive too.
What's the COBRA insurance policy? Is it standard 18 months for everyone or it depends on how long you've been at Oracle?
I only been at Oracle for a year.
TO : D: @1xhr+1i0MHNmX
"in 2020 my team member got laid-off, he got severance pkg - 4 weeks for one year employment with Oracle + one week for every one year.
That mean in your case your for 6 years with Oralce - will get 10 weeks of your salary.
COBRA insurance upto 18 months."
4 weeks per year is not in US policy, if I remember correctly.
2 weeks for 1st year, then 1 week per year.
I got this in 2021 (US) . After 20 years with Oracle I got 21 week or something like that.
The max (cap) is 26 weeks
Up to a maximum of 26 weeks of base salary, minus # of WARN Notice Pay weeks. Let say you have 8 weeks of notice till your actual termination date, max severance pay out is 18 weeks. I know someone works at oracle for 30+ years got only 18 weeks of severance pay.
There should be an HR person whose contact info was sent to you along with the paperwork. If you do not understand details of your severance for any reason, please contact that person. Don’t be asking anonymous internet randos to explain it to you.
Some of my peers were let go today that had only started recently, less than a year. Their severance was pro-rated, so 6 months equals one month at 50% pay, those with three months get 25% pay for month, etc.
Can verify that the standard severance is 1 year = 4 weeks, plus a week for every year thereafter.
Is there a cap?
If you wish to share any details about the latest Oracle layoffs, feel free to get in touch.
Tom Claburn
Reporter for The Register
tclaburn (at) theregister (dot) com
in 2020 my team member got laid-off, he got severance pkg - 4 weeks for one year employment with Oracle + one week for every one year.
That mean in your case your for 6 years with Oralce - will get 10 weeks of your salary.
COBRA insurance upto 18 months.
I am in CX Commerce and was let go today.
4 weeks for the first year, then 1 week per year after that.