Thread regarding Oracle Corp. layoffs

The Strategic Clents Group who was responsible for top 200 clients also got notice

No biggie. Oracle products sell themselves. And don't forget AI. LE talks about it all the time. It's the reason that automous DB runs itself. Humans no longer required.

The Strategic Clents Group who was responsible for top 200 clients also got notice

"What do you mean by ‘ Some of you will get your package if you have been with Oracle for more than a year or so.’ ? New hires are safe?"

No. It means you are going to get your manager's package, right in your shorts. BOHICA!

What do you mean by ‘ Some of you will get your package if you have been with Oracle for more than a year or so.’ ? New hires are safe?

Black Rock is saying recession will be the hardest thing we’ve ever seen. Major global reset to global currency.

I wish I could tell you this is nonsense, but with the way governments out there have been manipulating currency and printing money, I won't bet against this. This is the result when you try to micromanage, well, anything.

Downsizing will not stop at fiscal.
Next fiscal severance could be less.
Black Rock is saying recession will be the hardest thing we’ve ever seen. Major global reset to global currency.
Govt control is not just US .
Finance industry and others will be hit hard which will hit Oracle hard.
Oracle will be forced to layoff non producers. As much as many want to see corrupt overpaid middie mgmt jobs terminated it really will be an unfortunate reality due to fewer employees to
manage. Employees experience at Oracle will be a plus to find good jobs. Mid mgmt will have a tough time.

They will want to incur all these costs before the end of the fiscal, which means remaining notifications will be mostly January/Feb, severance payments in Feb/Mar/April. Every country has different rules, so it will take a while.

It would be so much better if it was done once globally, and then over.

And then the cycle will start again for next fiscal year.

``The 420 Million the figure allocated for total costs of restructuring from Jan to end June, not simply severance.
Good point. Consider that they are trying to unload most of the Santa Clara campus. There will be costs associated with that. I wouldn't be surprised if they also try to unload other campuses, like say BRM. And there are plenty of leases they will want to break. More costs there.``

Exactly real estate divestment will have significant cost associated with it.

`The 420 Million the figure allocated for total costs of restructuring from Jan to end June, not simply severance.`

Wow really? You sense of denial is strong. They are not rearranging furniture or restructuring office space. Its employees they use the word "restructuring" to fool employees like you. But just to be sure they don't fool the investors the give the following footnotes on page 18 of the 10Q released to the SEC:

No denial here, there will be layoffs, especially in high-cost locations. It looks as if they will continue with small, under-the-radar layoffs followed by another large US-centred layoff, maybe in March or May.

I think employed applicants are just more attractive to recruiters and companies.
This has always been true.

Yes always been better to find something while you are employed. And if they ask why you want to make a change say something like. "I've been at Oracle for X number of years, I've accomplished all I can and I think it is a good time to make a change and see what opportunities are out there for me."

If you do start looking for work, keep it to yourself.
A good rule of thumb, regardless of where you work. No employer is amused when it is discovered that you are looking for a new job.

Great advice. Never ever ever advertise. Just smile and keep it to yourself. Then smile when you tell your manager you are leaving for something else. Always keep your cards close. Don't complain, threaten or otherwise telegraph you are looking for a chance to get out. If you need to do any of these things, use the bathroom mirror. At home. When your spouse is doing something else.

I think employed applicants are just more attractive to recruiters and companies.

This has always been true.

If you do start looking for work, keep it to yourself.

A good rule of thumb, regardless of where you work. No employer is amused when it is discovered that you are looking for a new job.

Also know that Oracle taxes any severance up front

Actually, that would be the government (IRS) who stipulates how much is to be withheld. Oracle has no say in the matter.

Get another job while you have one, especially if you're over 40 and/or have been with Oracle more than 10 years without promotions or significant pay increases. I think employed applicants are just more attractive to recruiters and companies.

I was a long-time Oracle employee and instead of it being seen as being a dedicated and loyal employee, it's been seen as stagnation. I think working at Oracle so long without significant promotions and pay increases has been a bigger obstacle to finding work than being laid off.

With all the layoffs in tech the competition for jobs is fierce. On LinkedIn are often 100-200+ applicants for a single position and that's just on LinkedIn. Probably more have applied for the same job on other job websites or on the company website.

If you do start looking for work, keep it to yourself. When I was at Oracle I saw the writing on the wall in my department and talked to my manager about looking for another position in the company. I was gone in the next round of layoffs.

Also know that Oracle taxes any severance up front and you'll net about 1/2 of the dollar amount. The COBRA (health insurance) plan is expensive and the third-party company Oracle uses to administer it is awful.

The 420 Million the figure allocated for total costs of restructuring from Jan to end June, not simply severance.

Good point. Consider that they are trying to unload most of the Santa Clara campus. There will be costs associated with that. I wouldn't be surprised if they also try to unload other campuses, like say BRM. And there are plenty of leases they will want to break. More costs there.

Odds are the clueless and lazy are first selected for layoffs. The smart motivated ones are getting skills and looking for another job. The less motivated but smart are asking their manager how not to be on the list.

How does the Oracle Doormat Principal play into the equation of who gets whacked and who doesn't? For example if I ascribe to the principal does that mean my odds of getting whacked are greater?

Man I am so glad I am out of there. I'm retired and I'm reading these post shaking my head knowing that there are still good honest people there who put in a real day's work for an honest dollar. Unless you are close to actual retirement you need to find a way out. Eventually you are going to get caught up in it and if the economy takes an even bigger turn down, getting back to work may be difficult. So leave on your feet rather than on your back. And if you are under 6 months to retirement, pray they pick you for severance. That way you get a nice 6 month vacation complete with unemployment benefit before you start to collect.

For the rest of you, good luck and heed everyone's advice. It's good and solid and will hopefully make your life better.

P.S. "restructuring" means layoffs. "we restructured and your job is no longer relevant".

Yes. The iceberg is melting and soon the dirty corrupt sludge of at least one will be removed hopefully sent away for several years.

Hopefully not a dime will be allocated to the dismissal of angry degrading corrupt abusive middle mgmt narcissist that has taken advantage of Oracle for at least 28-29% of time employed that is verifiable at this point.

And you are probably just looking at the tip of the iceberg.

Hopefully not a dime will be allocated to the dismissal of angry degrading corrupt abusive middle mgmt narcissist that has taken advantage of Oracle for at least 28-29% of time employed that is verifiable at this point.

Harbinger speaks! And the truth is laid bare.

The 420 Million the figure allocated for total costs of restructuring from Jan to end June, not simply severance.

Wow really? You sense of denial is strong. They are not rearranging furniture or restructuring office space. Its employees they use the word "restructuring" to fool employees like you. But just to be sure they don't fool the investors the give the following foot notes on page 18 of the 10Q released to the SEC:

(1) Restructuring costs recorded to each of the operating segments presented primarily related to employee severance costs.

and

Other restructuring costs represented employee severance costs not related to our operating segments and certain other restructuring plan costs.

That is reflected in note 6 as a separate line item:

(6) Other restructuring plans presented in the table above included condensed information for other Oracle based plans and other plans associated with certain of our acquisitions whereby we continued to make cash outlays to settle obligations under these plans during the period presented but for which the periodic impact to our condensed consolidated statements of operations was not significant.

Total other restructuring plans (6) $ 71 Million

So let's be real clear 420 million for employee severance costs and 71 million for the other restructuring costs.

I hate to say it but if you don't bother to read the 10Q announcing layoffs and the amounts allocated for employee severance and are not capable of understanding it then you will be totally unprepared if or when it hits you. Consider this note your personal wake up call.

Odds are the clueless and lazy are first selected for layoffs. The smart motivated ones are getting skills and looking for another job. The less motivated but smart are asking their manager how not to be on the list.

Godspeed.

The 420 Million the figure allocated for total costs of restructuring from Jan to end June, not simply severance.

Thank you for sharing this information.. Sadly this is all true. RE&F, Projects, planning and EHS has gone out to bid to be outsources. Asking, everyone get all doctors appointments and meds in. Love and strength to all.