Thread regarding Oracle Corp. layoffs

My direct manager (M7) has confirmed the costs cut. It will be very aggressive. A very bad sign, given it was decided at the beginning of Q3.

A 20% cut in the workforce is also expected, but not confirmed. So this latter one is just a rumour right now.

Why don't they just buyback more stock. That seems like a winning plan to boost EPS. Eventually they will buy all shares of stock and there will be no one left to own the company.

I don't think they have enough money to buyback all shares, at least not now.

Maybe when the price drops to $1/share?

I know someone who worked in a company where the share price dropped to only a few cents. It can happen. If customers flee the db in the next couple of years, it could really happen.

It means they will not backfill positions without approval from the office of the CEO.

Why don't they just buyback more stock. That seems like a winning plan to boost EPS. Eventually they will buy all shares of stock and there will be no one left to own the company.

Most all positions from departing (or laid-off) employers WILL NOT be back-filled.

Currently advertised open positions, particularly in marketing-related areas, have been frozen and WILL NOT be filled in the near to mid-term future.

What does this means:
"Hiring freezes are in effect for employees who have departed."

The problem with Oracle is facing now is the push back from customers, Customers are now very reluctant and afraid to invest in Oracle Products because of what they experienced in its Oracle Product heydays. Oracle has a lot of great products(everybody knows that), except during the times when Oracle is on the top of the world, they put the customers as slaves and a milking cows, they were trapped in the so called monopoly and charged so much money to the customers on a great product but very poor after sales support and bug infested releases with poor continual service improvement efforts from development. The Quality has dropped down so bad, after moving a lot of dev/ops offshore with low paying wages which results in sub-standard product quality. Top management with the exception of LE were all greedy and only cashing in on their personal interests, without fashion and care about the company......after all,,,,they can leave once their stocks soars and once declining they can cash in and leave behind its mess........nuff said... that's the truth!!!!!

Things will continue to go downhill. No great rebuilder-type CEO appointed. That should be your signal to understand that no one at the top has any interest in rebuilding or fixing Oracle.

It's time to get out if you are not waiting for retirement. If you are in your 40's you should be getting out now to another company you might be able to retire from. Don't hang out and wait till you are 50. Ageism is real.

Oracle needs to invest MORE in marketing. We desperately need to reposition ourselves- we have good products but customers hate us. That's a marketing problem- not an engineering problem. When will we ever learn?

BS for someone who doesn't know Sh– !!!!!!!!!!!!!!!!!!! " The sky is falling The sky is falling " Whatever !!!!!!!!!!!! lol

I can corroborate and confirm what the OP and -1kdz are saying.

Much of the planned cutback, budget butting and consolidation is centered in the marketing area company-wise. JE is the new replacement to head up marketing areas, although the longtime JS is still in place and well entrenched.

Do expect some modest layoffs in addition to the significant budget cutbacks mentioned. Marketing related positions WILL NOT be back-filled and many job Recs are now on HOLD until further notice. Exceptions will have to be appealed up to the Office of the CEO for direct approval.

These actions are purely to cut obvious and major fat (redundancies) in some areas and should result on some positive impact on EPS and profits for 2H FY2020.

Most folks not in Marketing positions (and even most Marketing folks) should not be worried and will not be affected.

Thank You for your support.

@12TKgPEh-1keg I can confirm the budget cutbacks, not layoffs. From the marketing area, the news is that there will be marketing consolidation, which is really just a lot of much needed streamlining. How many jobs will be lost is TBA. I imagine there will be some, but who knows who will be affected. SC is not a marketing mind and Rupal's replacement is a customer success guy/ex CEO of Rackspace, so the potential for messing this up is really high.

Nothing in latest WARN notice except Santa Clara which had effective date of 8/2019. It's still early though so I agree would be a good source to keep monitoring. I don't think that OP is just talking rumor here either. Thanks OP

Can confirm from conversations with boss that this is happening.

I unless your "boss" is a VP I doubt s/he knows anything about this alleged mass layoff.

There hasn't been a big layoff since the big Sun RIF in 2017. Lots of bold predictions since then, but few have been accurate. This prediction will also probably be a lot of hot air.

This logically makes since if the stock buy backs have reached their end. The EPS has to come from somewhere. There are many old timers still at Oracle (over 50, and even 60) who are just hanging on with Oracle with hopes of hitting a somewhat comfortable retirement age before cashing out the 401k and SS income while not having to face the interviewing and new job gauntlet with the ageism that will await them. BUT, for those under, say 45? If you’re not updating your skills and resume, you better wise up and read the tea leaves.

OP here. One of my first contributions to this site. Trying to add valuable information and call things as they are.

Then people p–poo them as if it is all rumor. It’s not, people.

Thanks for the confirmation of my original post.

Can confirm from conversations with boss that this is happening. But yeah, as far as layoffs, check the WARN website. Don't just listen to rumor.

When was this “heard”?

Probably made up. I recall predictions here that there was going to be a "bloodbath" about 9 months ago, though just a few hundred across the company were let go.

The "information" on the Oracle page on the thelayoff.com has become next to useless. You might as well consult a Ouija board or a Magic 8 Ball.

Right

MH’s long hand is reaching out from the grave ....

Oracle has now entered the dreaded death spiral - cuts lead to declining revenues, which lead to more cuts, and so on, till there’s nothing left.
Get out, get out, get out !!!

When was this “heard”?

The unkindest cut of all

DOD - NPA sales practices coming back to haunt the maroons.

about time to clean out the bloated managers that have nothing to do and have 1 or 2 direct reports.

Spreadsheet-lady is in charge. It will be much worse than MH ever was.

The writing is on the wall. Get out of there.