Whole slew of senior executives left in FY19. Tomorrow the "Global Corporate Program" starts, head of HR Asia Pacific said that huge multi-phase reorg was underway which would result in massive global layoffs when she dropped the layoff bomb on 1,600 Chinese employees on May 8th.
Over 23,000 layoffs and nearly 2 billion in severance packages since 2016. Cloud s---s, and its Oracle's only hope as on premises growth was 0.1 percent last quarter.
Something has to keep EPS up on the earnings call in a couple of weeks. MH is known as the hatchet man and he is up against the wall. He cut 23k jobs when profits and EPS and growth was good.
I wonder what his plans are for next week. The Global Corporate Project reminds me of Austin powers when Dr Evil created the Allan Parsons project where he put a giant laser on the moon and started blowing up whole cities on Earth.
The only difference is instead of Dr Evil on a moon base its MH in the HR Corporate HQ targeting Oracle Employees in every major city around the world. I can see him put his pinky to his lips and say "108 MILLION DOLLARS" .... "MUHAHAHAHA MUHAHAHAHA." As the global destruction begins next week.
I could be wrong, and everything is just fine at Oracle. But man .... the writing is all over the wall in letters 10 feet high. "Numbered^2, Weighed, and Devided."
https://supchina.com/2019/05/09/oracle-to-lay-off-1600-staff-in-china/