Oracle has turned out to be the worst kind of employer. Providing no information to its employees in situations like this is truly traumatizing for the employees.
Even though we know that Oracle is a heartless, soulless company, we still expect to be treated better.
Other companies will provide a better situation for those employees who were let go. That won't happen without effort. But, putting in effort now can pay off later. Getting out of Oracle is the way to go.