If you still work at Oracle and make a decent salary, are over the age of 30 or 40 you should always read the 10Q. Layoffs are not over. Its not as big as the last two years, but its close. Over 1.1 billion was spent on severance packages over two years, that is an average of $550 Million per year. This year $432 million was earmarked for severance packages. As long as MH is running the company you will have layoffs. You can count on them like clock work. Layoffs keep people from asking for raises, keeps the fear factor high and gets rid f highly compensated individuals that know they can make more.
Come on people, Oracle has not given raises (not even cost of living increases) in over a decade. Layoffs, turmoil, strife, cuts in sales, support and engineering are the norm. Oracle has declining growth in every sector and just about ever customer is scrambling to get off of Oracle RDBMS. Is this a company you want to work for? Yes there will be layoffs every quarter just under the warn notification. Every experienced professional has a shiny new college grad waiting in the wings to replace him or her. MH is a genius and he is very proud of what he does best. He reduces employee cost and head count. That is all he does, its all he has ever done. Oracle is just about dead, but the cuts keep coming.
RESTRUCTURING ACTIVITIES
Fiscal 2019 Oracle Restructuring Plan
During the first quarter of fiscal 2019, our management approved, committed to and initiated plans to restructure and further improve efficiencies in our operations due to our recent acquisitions and certain other operational activities (2019 restructuring Plan). The total estimated restructuring costs associated with the 2019 restructuring Plan are up to $432 million and will be recorded to the restructuring expense line item within our condensed consolidated statements of operations as they are incurred. We recorded $107 million of restructuring expenses in connection with the 2019 restructuring Plan in the first three months of fiscal 2019 and we expect to incur the majority of the estimated remaining $325 million through the end of fiscal 2020. Any changes to the estimates of executing the 2019 restructuring Plan will be reflected in our future results of operations.
Restructuring costs recorded for individual line items primarily related to employee severance costs.
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