How much money are y’all getting for the severance packages. Dollar amount or percentage of salary would be helpful to know to see if I got screwed.
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- 5k 6 years
One case I'd bet where the formula is different is for management.
Upper management often have contracts, which stipulate a payout should they be dejobbed. If you don't have a contract, manager or not, meaning if you are an "at will" employee, you will get the same severance plan as the masses.
“ Nobody “got screwed” because Oracle uses the same formula for everybody “
How do you know nobody got screwed and that they use the same formula for everybody? It's not like HR publishes the formula in aria.
One case I'd bet where the formula is different is for management. I bet management gets a much better severance package than ICs.
To receive a severance package you'll also have to sign away your right to sue the company, individually or as class action suit member.
So, it is okay, just as long as they use the same formula? So if we all get screwed equally, that’s okay?
FWIW, severance pay is not mandated federally by law in the US. Some states might have a mandate. I was once laid off from a small firm and all I got was 2 weeks pay.
Oracle's severance benefit seems to be about average, or as is described in some circles: "usual and customary"
FYI they will tax the entire amount upfront at the federal and state supplemental tax rate. If your state doesn't have a supplemental tax rate, not sure if regular state income tax is deducted...
"If you are in the USA like me, we get basically nothing....
"3 weeks + 2 weeks per year and capped at 26 weeks". "
I thought it is 2 weeks for first year + 1 week per every additional year and capped at 26 weeks ?
The separation packet details exactly how the severance amount is calculated. Maybe you should read it.
Anyone who uses the contraction y'all is not the brightest lightbulb in the room. Just saying.
The separation packet details exactly how the severance amount is calculated. Maybe you should read it.
You get exactly what you deserve.
If you are in the USA like me, we get basically nothing....
"3 weeks + 2 weeks per year and capped at 26 weeks".
In countries with real employee protection laws it's much, much better!
Maybe we can vote Trump back in get high paying jobs in the coal mines he will re-open.
To the HR rep. Even if the person is a reporter I’d argue Oracle should be exposed. If nothing is hidden what is the issue?
“ Nobody “got screwed” because Oracle uses the same formula for everybody “
So, it is okay, just as long as they use the same formula? So if we all get screwed equally, that’s okay?
Thanks for the insight HR.
Nobody “got screwed” because Oracle uses the same formula for everybody during a large-scale layoff like this. Curious: are you a dim paranoid who did not read the docs they sent you or are you a reporter trying to get people to post actual $$ amounts?
Believe it is 3 weeks + 2 weeks per year and capped at 26 weeks.
Don't look back. You got the deal you deserved.
Easier to simply assume that you have been! That way you will not be disappointed.