It is interesting to note that in May of this year, after approving a 1.1 Billion dollar severance package in the Oracle 10Q, and before 3 consecutive quarters of layoffs at Oracle, MH calls the layoff warning "Fake News."
https://www.cnbc.com/2017/05/04/oracle-ceo-mark-hurd-interview-att-deal-no-layoffs.html
Hurd denied a report of impending layoffs in Oracle's sales staff
His direct quote to CNBC:
Hurd also pushed back against reports that Oracle may be cutting its sales force back in a restructuring.
"I think that's fake news," Hurd said, invoking a phrase used frequently by President Donald Trump. "I've seen a couple of reports over the past two weeks... I saw a report that we were cutting our sales force, there is not merit to that whatsoever."
Now after 3 consecutive quarters of layoffs, and $625 Million or more spent in employee severance packages. Is it still fake news? Sure it is.
https://www.channele2e.com/business/enterprise/oracle-layoffs-june-2017-ceo-denies-sales-team-cuts-rumors/
Original May 4 report: TheLayoff.com suggested Oracle is planning its biggest reorg and layoff since 2007. The Register piled on with more Oracle layoff rumors. In response, Hurd told CNBC:
Still, Hurd is pushing back — aggressively — against the latest layoff rumor. And he’s also painting The Register as a rumor monger.
We really are going through the biggest reorg / layoff in 10 years. Not one word of explanation from MH to the employees. Not one word of acknowledgement from MH to the media. The biggest question is why is the media not covering this? Also why is MH pushing back so hard? Sun is officially dead, and if the rumors are to be believed there will no longer be a field sales organization by June 1 2018. All Oracle sales will be handled by Oracle digital.
Additional Rumors are floating that MH is quite proud of his plan and is actually laughing when questioned about laying off families during the holidays. Is there no justice? Why is this the kind of guy running a large tech company?
We still have $475M to $450M to be payed out in severance packages after 3 quarters of consecutive layoffs. Why was the plan made to stretch this out over a solid year? What does this do to employee morale? The CEO is at best misleading the news media and employees as to what his true intentions are. Why? What does he gain from not being straight forward?
Which is a more reliable source? Rumors or what MH actually says? What we are experiencing is a plan he started and is executing. He knew back in may he was going to do a massive restructuring at Oracle and he referred to it as "Fake news"
I half way expect him to say something like "Let them eat cake" when asked about the thousands of families having a difficult time finding work during this holiday season. Can you have a better more cartoon like bad guy for a movie?