From last 1 year employee headcount have been aroubd 137K. Last week (today) it reached its peak around 138.6K
10 years back it was around 70K.
Even though many acquisition. But after netsuite acquisition also number have increased. After TK leaving also, numbers have increased. Arent people posts here are too negative? Even stock performing ok, can buyback keep stock prices this high?
Folks.. this is spot ON. I was laid off last Jan 8th along with hundreds of others that were > 40yrs old ! yes, the severance packet we received that we had to sign saying we wouldn't sue Oracle listed the ages of ALL employess laid off !
The true irony in all this was that months prior my management told me (>18yrs with Oracle).. "If you help mentor and train all the new hundres of Indian young "HUB" employees in our US and India locations, you'll probably get recognition from our VP !" .. I kid you not! So, like a dumb a--, that actually saw the writing on the wall, but felt, OK maybe others will be laid off but how could they riff me with stellar decade of reviews, and training the Indian "Hub" employees (just out of college and I sh*t you not.. were CLUELESS regarding Systems, Sizing, Application Architecture, Workload characterization, DB consolidation, or even basic stuff you should have learned in college!?
The moral of the story is that SafraK is clueless about Technology nor Innovation and just pinching pennies and spending all of Oracle's profits on stock buybacks of shares to artificially boost EPS, etc. and gutting higher paid or older employees and opening several hubs with H1B Visas's [that thank God Trump is stopping !]. You can't blame Safra, who is just taking the lead of 1/2 of Oracle Cloud/Sales Sr. mgmt (predominantly Indians under Thomas Kurian and HamaidoD, etc.. pushing for the Hubs).
The funny thing with Oracle in the industry is that it's biggest problem is with it's image, where literally 3/4 of customers I talk to say they won't answer Oracle's phone calls since they HATE their Sales and executives so badly , call them "the MOB in Suits" !! (being threatened audits of SW all the time and most customers end up saying sorry, we're removing ALL oracle HW & SW).
On the strategy side, Mark Hurd is a dinosaur, and even worse his right hand new men are other dead wood from HP, namely Dave Donatelli's crew who are clueless regarding what Cloud Architecture is really about, still talking about "Converged Infrastructure" !!? LMAO, and no real idea of why people are running to Amazon, Azure, Google, or yes, even IBM (because they have "mainstream" focus from 5-10yrs back courting college kids and developers and investing in Universities (where the next technology that dominates is taught to those that will purchase it in 5-10yrs !!! duh). Instead, Safra, and Mark decided to cut nearly all advertising/marketing except for 1 of few little frontpage WSJ adds (that NO ONE reads anymore !!! .. ).
They are saving $B's in new Trump Co tax cuts and won't invest in it's people for training, nor bonuses/raises, nor R&D, instead just dumping it in buybacks and treating employees like George Orwell's 1984, or Farenheit 451. Oracle's Not playing in the Consumer space at all, also hurts ORacle who is only targeting Enterprise Corporate customers who only account for less than ?20% of US GDP vs 70% for consumer spending. Larry has gone past his prime sadly, no longer very Innovative, and Mark Hurd is just a Sales exec that will lie to your face and cut, cut cut everything that made Oracle a great place to work (no longer car expenses for sales, no longer training except really c-appy online multiple choice training for dummies, no longer decent tuition reimbursement, no patent awards worth your time, NO employee incentives for coming up with ideas to save $ or for new products...etc. In a nutshell, Oracle Sr Mgmt & Execs think they know the world and don't want ANYONE to make recommendations, with all middle management scared c-apless to speak up to the Execs, and would rather fire anyone that asks questions (I've seen it a dozen times).
Oracle killed the best CPU on the planet (SPARC) and the best OS (Solaris), and just gave away JavaEE, along with killing OpenOffice, etc. etc. etc. etc. (Sun used to be the worlds #1 OpenSource co! yes, that's true).
It's just another page out of the IBM book (who now has a class-action lawsuit case against it for AGE DISCRIMINATION for firing >20,000 US employees >40 yrs old this past yr.. Not to mention that IBM now has many more employees in India for much less $$ that they have in the US, slave labor is pretty cheap when you work people to the bone and pay them a fraction of their US counterparts).
Wakeup all, companies need to treat employees better and maybe employees will ?? hmmm?? work harder and feel loyal to their companies after working long hours there for decades ?
Thank god the US is gutting H1B visa's, but still have a huge # lobbied by Safra and the rest of Silicon Valley over highly qualified US based/born nationals, heaven forbit if you're > 40 or even 50! .. you're doomed, or better walk on water or have customers personally send a letter to your VP's to keep you hired. All in all, Sadly, even though this is all true, this is politically incorrect talk that the media will never report.
under LE, 17K in US and 13K in IN, I dont think the statement on firing in US and hiring in IN is true.
Oh ok... Now i get it... Thanks
https://twitter.com/MarkVHurd/status/1011659265654706176
262 new hires graduate college and graduate training, rinse and repeat across the country for 5 years. Then let go an equal amount of "seasoned" employees...
Its a "genius" way to reduce costs with out reducing head count. Someone comes in after 25,000 people are let go and says we still have about 138,000 employees... yes you do.
Read today’s article in the WSJ
https://www.wsj.com/articles/oracle-buys-its-way-to-stability-1537296117?ru=yahoo?mod=yahoo_itp&yptr=yahoo
“About $10 billion was spent during the quarter on 212 million shares, the company said in its conference call. That makes for a record amount for the company in a given quarter and brings the total spent on buybacks over the past 12 months to about $21 billion. Oracle has averaged a little more than $7 billion in buybacks on an annual basis over its past nine fiscal years, according to S&P Capital IQ.”
and
“This isn’t just generosity at play. Oracle has used its healthy free cash flow to boost buybacks over the past few quarters, which has helped offset the pressure of disappointing financial results as the legacy software maker slowly transitions to the cloud. ”
and
“Still, those buybacks aren’t without cost. Oracle’s capital expenditures for the trailing 12 months totaled $1.6 billion—down 25% from the same period last year at a time when cloud service rivals such as Amazon.com , Microsoft and Google are rapidly growing their own investments. There may be worse ways to spend $10 billion, but there may be some better ones as well.”
this is an old story... are you new here?
Oracle is laying off old experienced professionals (expensive mercenaries in MH words) and replacing them with young unexperienced graduated. head count the same or even higher, much less costs. you can have a feelings of this when you look at the profitability, we are continuosly improving the margin with basically a flat or even decsreasing revenues stream.
re the stock prices, again an old story. Oracle's board has just approved a 12 (twelve) billion dollars buyback this quarter (after having approved other billions of buyback in the recent past). with this kind of money used in buyback every quarter, ORCL can be maintained artifically high for years. think about this: Oracle has used south of 30B in buyback up until now. w/ this buyback ORCL is basically flat in value since last year (48$ sept 19th 2017 , 49$ today). what would be the price of ORCL w/o this buyback? noone can tell, but for sure much much much less.
The total number of employees is increasing but it doesn't tell you that for every old guy they rif, they hire 2 or 3 millennials that work at 1/2 the cost in India or Romania. That doesn't mean Oracle is improving in their technology or cloud customer base, it only means they're shifting costs around to hire more minions at a lower price. Not that it's a bad plan if you can balance expertise with cost but they're replacing expertise with entry level people who don't know the products or how to support them. And sales - oh well that's another story - MH wants to do robo calls to customers and expects them to buy multi million dollar deals over the phone from teenagers in Romania.