Which means there are $519 million reserved for severance packages cost;
Let’s suppose the average severance package in high salary areas such as North America, Western Europe is $25k, it would mean the number of upcoming laid off employees would be about 20k, which is very high: is it a realistic number?
It is amazing how you are treated when the end comes. People you thought at least cared about you treat you like %^@& too. Like you didn't matter and colleagues don't even check on you. So, no I don't feel bad for anyone. I feel bad for people who have decency. At Oracle, those who survive for whatever reason it seems take the high and mighty view. They feel privilege and if you are no longer there could care less. Its all good. Karma.
Well, they have started!
Severance packages in EU are much higher then 20k based upon Country and Tenure so your calculation is not accurate.
I am so glad to not be part of this BS anymore. While I am off in better places, my ex-boss remains in h-ll. Given how they treated me towards the end of my tenure, I only feel a little bad about it.
Oracle has 143,000 employees so letting go 20,000 would only be 13% of the work force. Seems very likely.
At 20,000 or so it would be a classic decimation. When Roman soldiers messed up they would have 10 men draw from a bag the guy who drew the black bean was stabbed to death by the other 9. Hence a decimation or 10% reduction...
Sounds like the party has only just begun!