Thread regarding Oracle Corp. layoffs

HR sent on march 30, THIS...

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Announcing New US Flexible Vacation Policy for Salaried Employees

AUDIENCE

All Oracle US Employees in Salaried (Non-Overtime Eligible) Positions

WHAT ARE WE ANNOUNCING

Oracle routinely reviews other companies’ benefits offerings, market trends, and employee survey feedback to validate that our benefits and policies support both employee needs and business goals. In December 2016 we implemented a new Flexible Vacation Policy for US employees assigned to career level M4 (Director) and above. Now we are expanding this policy to all Oracle US employees in salaried (non-overtime eligible) positions.

POLICY HIGHLIGHTS

Flexible Vacation gives US employees in salaried (non-overtime eligible) positions (referred to in the policy as “Flex Eligible” positions) the opportunity to take as much time off from work as they wish, as long as they get pre-approval from their manager and continue to meet the requirements of their job and business needs.

Effective June 1, 2017, employees in positions newly eligible for Flex Vacation will no longer accrue vacation. If they have unused accrued vacation on June 1, 2017 (or upon moving into a Flex Eligible position after June 1, 2017), they will continue to take and report vacation as discussed in the Accrued Vacation Policy until their vacation balance reaches zero. Any unused Accrued Vacation will be paid out upon termination of their employment.

Flexible Vacation may not be used for any non-vacation leaves of absence. Leaves of absence will be administered separately under Oracle’s Sick Leave and Leaves of Absence policies. Please also refer to the Leave FAQ section for more information.

Employees not eligible for the Flexible Vacation Policy are covered by the Accrued Vacation Policy, which has not changed.

This new policy fulfills several key objectives, including increasing the competitive position of Oracle’s Time Off policies, addressing employee survey feedback, and reducing administrative burdens and vacation accrual liabilities while providing greater flexibility for eligible employees to take time off for vacation purposes. Industry trends and benchmarking studies show an increase in the number of companies implementing a Flexible Vacation Policy and our own US Benefits employee survey showed that this type of policy is widely favored.

Please review the full Flexible Vacation Policy and FAQs for further details about this new policy and how it will work.

Please contact your manager should you have any questions.

I am assuming they are paying out whatever is left of vacation accrued before 6/1.

If not, then they are stealing from you because that's a defined benefit to you and a liability to them.

What???? They are NOT paying out accumulated vacation time?

The 10+ people I've spoken to in US got 30 days to find internal, then the four week/week per year deal.

There are a few tales of individuals being walked to the door, but hasn't happened to anyone I know.

Glad I got out earlier!

This refers to USA. Wish rules were more stringent like EMEA or APAC. US employees lose their benefit and payroll the day of termination which is the day after they are let go ( after the manager meeting ). You get a FedEx next day with a letter. Letter is very impersonal, just here are details of your termination. Attached is a 14 page legal document to sign and promise not to sue, if you want your severance package. Severance is 4 weeks for first year and one week for each additional year of service, caps at 26 weeks. Just to be clear, severance is taxed at almost 50% so it is not a lot of money by any means. You can apply for CObra health within 60 days or right away and apparently oracle may pick up first month. However the cobra papers do not say this. The whole process is very cold, the hr help on phone is not very good either. As a US employee I recommend filing unemployment right away.

Typical from which region? Are you in UK?

In USA, there is no 30 days to find a job and only 2 weeks for first year.

30 days to find a job internally, four weeks severance plus one week per year of service has been typical of oracle in the past.

Recent changes also go toward wiping out accumulation of vacation time that would have to be paid out as well.

sad to hear, can you share the terms of the severance pkg?