There are scheduled internal meetings at the VP level all day today in CA. Some have been flown in. Thoughts?
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Squid game on campus this week. It’s more fun for you know who to see everyone dance and then get obliterated.
I believe those that have been at the same VP Level for over 15 years get paid a base in the low $100’s. These people are rare but Glassdoor didn’t exist when they started, just sayin
Per Glassdoor Directors make 191K, 226K with bonuses, Senior Director 275K. Curiously, it reports VP as $249K, less than a senior director, with a base salary of 219K.
Now it is possible that some salaries reported to glassdoor are bogus. But why would Oracle even bother to do that? If it's faked, wouldn't they try push it up, and not leave it lower than Senior Director.
Low 100’s
"Most lower level VP’s are given a very low salary"
An idea of the range? One man's low salary is another man's king's ransom.
Most lower level VP’s are given a very low salary and have a highly leveraged bonus package based upon the productivity of all of teams under them.
or are they just very well paid "at will" employees
At will employees. VPs are a dime a dozen. And it’s not uncommon to see VPs rif’ed.
I would expect a riffed VP's boss to give them the bad news in private. And over Zoom. Why fly them in? That costs money.
Does anyone know if VP's at Oracle, especially the lower level ones, have contracts, or are they just very well paid "at will" employees.
It goes with out saying that some VPs getting the Axe would be poetic justice. I just have to say anyone at that level is politically astute and well trained and versed not just in survival with in a company, but in climbing the organizational ladder.
Highly unlikely. But if I were running things I start the meeting by announcing that some executives in the meeting will get laid off. Then I'd go through the profitability of each org. When I hit one that wasn't profitable I'd ask the VP to explain. Just to see the VP literally sweat. I may or may not layoff that specific executive just to heighten the tension.
But many would be let go after questioning.
I bet that would motivate each VP to make sure there division is profitable.
But then think again... I bet they'd offer to layoff enough employees to hit profitability and they probably already have that list handy. Rats at the top have the uncanny ability to easily sacrifice underlings for survival.
Hey, Mr Sarcasm… my thoughts were at a different level…could these VP’s that were flown in for internal meetings, and received notice of travel at 5pm on July 29th, be getting the axe? Some deserve it. How about your thoughts on that kind of game of chess? Checkmate
Layoffs are planned well in advance, so they probably aren't working on any Friday or next week layoffs. As to why they are meeting, it could be regarding a post layoff reorg, how to retain those who are left or many other things, maybe even another RIF later this year. VPs do get together to discuss many things.
One thing is certain: if you are in a group that is falling very short of financial goals you should be worried. If it isn't generating profit at all, then be very worried.
Most likely to distribute strategy / messaging. I’m fairly certain no one below EVP knows what’s going on.
Hmmm. Rumors of $1Billion in layoff packages... layoffs begin globally. VP meetings all day in CA. What could this mean?
Either they are planning additional layoffs or... let me think....
Perhaps its something like a Trivia game, you know like when you go in a bar and they ask trivia questions. Nope... no that's not it.
A remote limbo contest... nope... to hard to get the camera to show how low the VPs can go... that's not it
Online chess tournament? Not likely
Executive birthday? Nope... no one is that popular at the executive level during mass layoffs.
Yeah is a "Restructuring meeting" pretty sure 99.9% which means more layoffs are coming and they are planning on how to do more with less.