I need some help understanding how Oracle calculates total number of years of service when pay your enhanced severance payout. If you worked at say at Storagetek for 10 years then Sun 5 years and Oracle 7 years, would I then get 22 weeks or severance or just the 7 weeks for 7 years at Oracle? Any help is greatly appreciated.
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I heard the total 26 weeks cap, including the 2 months WARN.
So, the actual severance will be capped for about 4 months.
This is the comment from someone got RIFed in January.
I have also heard that the years can round up -- so if you have 18yr 7mo of service, that counts as 19. Don't know what 18yr 3mo would count as though.
The paper work in your package had a Separating Oracle Employee Information and mine said Enhanced Severance. How long before we get the second package, so we can send it in and get severance?
"I think most of us got enhanced severance package"
- how to tell whether getting standard or enhanced package? The separating oracle employee information included in the FedEx seem not clarify which package we can get(enhanced or standard?)
Thanks!
@P35WBd0-1tmz: Thank you. I wasn't impacted today - many many of my peers were, and I have to be honest when I say I wish I had been. I have no doubt the end is near for me too, and I'm looking for jobs. But I have a long Sun+Oracle tenure.
I think most of us lucky people today that got laid off are relieved. Thanks for the information, I think most of us got the enhanced severance package. So 4 weeks for 1st year, 1 week for every additional years. Thanks again.
You will find out in 60 days whether its 2 weeks (new) or 4 weeks (old)
No, it hasn't. In January it was 4 weeks for the first year.
It's always been 2 weeks plus a week for every year of service.
That implies they are now giving less than before. The package in January was 4 weeks for the first year and then one week for each following year, up to 26 max. Your old company (Sun, Storagetek) is counted in.
So you are saying it's now only 2 weeks for the first year?
Thank you very much. Just trying to understand, I feel so relieved.
Yes.
So your time from previous companies counts in total years of service?
2 weeks + 1 week for every year of service up to 26 weeks.
You will get 22+2 = 24 weeks.