Why are there so many rumors about reduced packages, or people not getting one at all? I haven't heard anything concrete. Is this just conjecture, or is there a real change coming?
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With layoffs hitting such an unprecedented level, Oracle can't afford to continue handing out the generous packages that people learned to expect before we hit the financial skids. Ie,
Does anybody really think 30K job casualties will do as well this fiscal year?
It's like this everywhere in US corporations. The first ones whacked over the years did better than the trickle that's coming now. Best to lower your expectations.
@ac I thought it was six months cobra or six months of healthcare?
@OP They don't want to get sued, so they won't eliminate it. A LOT of the folks who are being let go are older and have been there for many years. Not all of them, of course, but enough that someone might want to start a class action lawsuit for age discrimination. In order to get the severance, you have to sign a document stating that you won't sue them for any reason.
I think people are just fear-mongering and speculating. I'll believe it if I hear from a long time employee gets let go without severance.
USA SOP, 4-weeks for 1st year, 1-week for every year after, max to 26. One month Cobra, then you are on the hook for the $2,500+ for the remainder of eligibility.