Spent 25+ years with Oracle, 3 stints as an employee. Company is broken, dual CEO model doesn’t work. Then you’ve got pockets of power who make poor decisions. Too much focus on protecting support revenue too, with c-ap products being released in a hurry. TK saw the writing on the wall.
It’s very sad, but the only way forward is to cull at the very top, get rid of Hurd and Loic, Safra back to CFO and go find leadership and inspiration from somewhere. Larry needs to take a good look at himself.
“So did you realize this after you were laid off?”
No I walked last year, got fed up apologising to customers for poor cloud products. No woe is me at all best move I ever made.
Oracle BoD is a total joke, a bunch of useless LE a--kissers
Look at board and how long they have been on board. Like they are going to byte hand? Hah no.
Why isn't anyone calling out the board of directors? They control SC, MH & Larry compensation and keep incenting them to act this way.
Take a look at Global IT and who the leadership is now, especially in Operations. All Former Sun people. And I will tell you not the best former Sun people. You are not too far off the mark.
Sun was cursed. Long story......but when O bought them, they absorbed the bad vibes. I’m seeing the same sh-- happening. Results will probably be the same.....failure and a fire sale to the highest bidder.
I am not a fan boy and I drink no koolaid yet I got to ask:
how come that the company financially performs really well and makes stockholders wealthy and yet you claim that it's broken?
as a worker, i hate many things here and as a stockholder i am very pleased - they are doing things right
Your cynical absolutism is misplaced - SC isn't the witch - the BOD and investors who pay her and encourage her bad behavior are the ones you should be disgusted with. Investors invest to make money and don't care about people or your personal job satisfaction. SC gets paid the big bucks to keep costs low and that includes salaries and headcount. She cuts people because the products aren't selling and customers are leaving in droves. They're suing to leave due to the "iron-clad legalese" of our contracts and on prem support - which you can't ever cancel or stop payment without a horse head ending up in your bed. Don't you get it? It's only about stock price and keeping the street happy enough to keep buying this cr**p. Has nothing to do with people.
" she sold 270 million in stock the same week they lay off thousands of people"
Well - she has no control of when her stocks are sold. She does, however have control of when layoffs are announced...
I guess the pure strategic genius of the SC/MH is to boost stock with buybacks. So, as Cloud (and Oracle) continue on its decline (I'm predicting at an ever increasing rate now) the only cash will come from cutting headcount, expenses and chunking off real estate. Keeping the stock price high through buybacks is purely artificial but the financial people might still believe that actual Cloud revenues will materialize (some day.) Only a company with a strong dedicated workforce can overcome the enormous failures in Cloud execution such as Oracle's management have done. This low blow to the workforce will be unrecoverable and will decimate moral and confidence across the company.
"That per-share number needs to be taken with about $10 billion worth of salt grains, though, as Oracle admitted it repurchased that much stock in the quarter, about 203 million shares. It is the second consecutive quarter Oracle has repurchased $10 billion-plus, more than double the software company’s previous record for quarterly repurchases entering this fiscal year. Oracle is only halfway through its fiscal year and so far has totaled more than $20 billion in stock buybacks, a huge jump from its total spending of $11.5 billion on stock in fiscal 2018, an Oracle record at the time."
Must we continue this lecture on how capitalism and public companies work?
SC (while she may be subhuman - don't know - never met her) her job as ceo is to make money "for shareholders" not babysit employees career dreams and inflated wish lists. She gets bonuses based on how much money Oracle makes for investors - not how much money she pays to employees. BTW, her stock trades are regulated by the SEC and she and the other executives have to trade on pre-arranged dates. So she can trade whatever she wants, it's the BOD and shareholders who allow the excessive salary, the millions of bonuses and treatment of employees. If you want to see changes - write the BOD, publish the slimy internal stories of how badly you've been treated and see if investors care - I'm betting they don't.
"Spent 25+ years ... company is broken."
So did you realize this after you were laid off?
Or are you still there notwithstanding?
Getting tired of these victim, woe is me threads.
SC and MH are laughing all the way to the bank.
2 co-CEOs are laughing in the background and give the finger to their gentiles employees who have been recently axed.
I bailed four months ago after 22 years. Should have moved years ago. Hurd ruined the company. Diagusting to see Safra pulling out a quarter of a billion $$ every year while the employees get cut and those that stay have their compensation plans slashed. Feel sad for those that stick it out. Trust me - the grass is greener.
CEO Recent Trades:
CEO Safra Catz sold 5,000,000 shares of ORCL stock on 03/20/2019 at the average price of $53.08. The price of the stock has increased by 1.81% since.
CEO Mark V Hurd sold 1,200,000 shares of ORCL stock on 03/19/2019 at the average price of $53.83. The price of the stock has increased by 0.39% since.