How does Oracle do layoffs? When does it start usually? As soon as people get into the office or sometime later in the day?
I'm just wondering when will we finally know if today was just about a rumor gone wild or not. I truly hope this does not drag out throughout the entire day.
"Don’t worry you’ll see"
I am still waiting. What am I supposed to see?
Oh, wait, when's the end of the world?
UK was hit today. Hard. Today was their last day.
While the 10K showed how much Oracle set aside, that is the worst case scenario. If Oracle can find a way not to spend that money and instead use it elsewhere, they will. At least in part, that seems to be happening.
Some in field sales have been told to go look for other work. It is the classic "retire or be fired" option and Oracle gets away without paying any severance.
Many have been looking for work outside of Oracle, especially at places like Amazon, Microsoft, Google, Salesforce and Workday. Unfortunately, working at Oracle for too long can lead to being disconnected from desirable skills, so plenty find that making the jump isn't so simple. Even so, enough are finding their own way out the door and Oracle avoids paying severance.
Territories were cut in half last year while quotas remained the same, so most fell short of target and Oracle didn't have to pay out full commissions. Quotas are supposedly going up next year, so Oracle will pay out even less in commissions and more people will look for the door. Oracle won't need to pay severance either.
While Oracle may have a narcissistic culture that impacts customers and employees negatively, it isn't stupid. They've learned from the past -- single day layoffs bring too much attention and even staggered layoffs produce an underlying discontent while being expensive. They can get the results they want by encouraging attrition. Don't be surprised if layoffs end up being very targeted only to find that you have a job that is setup with unachievable goals for the coming fiscal year, is aligned to work with resources from the Hub (e.g. start training your replacement) and had the privilege of being part of a "green" initiative (take out your own trash). Oh, and let's not forget that there will also be the regular "Fake news", Oracle Cloud is crushing it, etc. posts here as well that try to spin that things must be great if there aren't massive layoffs.
This isn't going to be a sudden implosion. Oracle is a massive company with significant resources. Look at IBM or Sears. Played "right", these companies can circle the drain for many, many years all while paying a ton to the leadership. If you want to see Oracle's immediate future, look at IBM as it seems that Oracle is following their playbook -- recurring revenue shrinkage, continued claims of future dominance, loads of money paid to leadership all while finding ways to cut departments, encourage attrition, shift work overseas and hire from college (or even lower). Sprinkle in a bit of MH's past moves for good measure -- cutting maintenance staff and making employees do the work (take out the trash, like in Austin) was done at HP while the next phase was to start shutting down offices altogether (yet to come, but may have started in MN). It is a very slow process.
It happen d today in the UK. OMC hit.
@Tr078PR-vuc you are so right- a bunch of knuckleheads .
Don’t worry you’ll see
"People speculated May 31 based on the 10k."
It was way more than speculation, they said it was "concrete evidence" and that fed the paranoia.
"Look at this $ allocated in the 10K, it has to be spent, $Total/$Per head = 20-30K to be laid off, blah blah blah..."
I am waiting for these ppl to come out and declare the next end of the world date because they found another line or 2 out of some release or what not. Knuckle heads.
In the US it may be another day but in the UK it is happening today.
2 years ago, the big riff was a couple of days into Q1. Last year, it was on June 1, the first day. People speculated May 31 based on the 10k. I agree with @Tr078PR-ric. No need to fire people on the last day os the Qtr that are trying to bring deals in. Pre-sales will get severance. Sales will get the axe with no severance based on performance.
The May 31 date was FAKE news. Sorry you fell for it.
Usually, you will be scheduled for some non-nondescript meeting.
I don't think anything will happen today. Everyone is focusing on bringing Q4 deals, nobody will want to draw focus away from sales. Tomorrow, though, is a different matter...