Basically the title. How much are they giving in terms of medical/dental/vision and base pay?
11 replies (most recent on top)
There are international laws that protect non American employees.
You get trump and you get shorted.
Wow. Folks got really hosed on bennies. A friend of mine got caught up in the Verizon layoff and, if I'm not mistaken, they're ponying up for six months of healthcare.
This is not state secret. 4 weeks for first year plus 1 month/year capped at 26 weeks, and any notification weeks are deducted. Net paid ad lump sum subject to payroll taxes. Ona month paid COBRA of you sign the termination agreement without complaining, and 10 paid EAP sessions valid for the next 3 months.
2 months on company payroll (due to WARN) + 3 weeks of pay.... for 8+ years of service.
It's laughable Oracle calling itself an AI company when less than a year ago employees.didint have access to any internal LLM and were forbidden from using ChatGPT et. al.
@a6 former oracle ee….this is all sad to hear but I am not surprised at all as they are the one of the worst managed companies in the world….for a long time.
@aa It seems to be lump sum. The layoff info provided a total $ for the payout.
Is the severance a lump sum or is it like they’ll keep you on payroll for how many ever weeks based on your tenure? Sounds like the former based on how peoples’ benefits end on a specific date.
Larry Ellison f'd up Americans pretty good.
@OP 4 weeks of pay for the first year of service and one week of pay for every year after that, maxing out at 26 weeks. No benefits after your final day of employment, which for me is April 10. Cobra is available. We’ll be getting a packet about that but it’s usually pretty expensive.
Heard from my friend, the Severance calculations are almost correct but not in high-tech pay structure because Oracle is low payer. Oracle is also forfeiting on stock vesting so your job is cut just 1day-1w before your stock vests and you end up losing all the money.
I see Oracle is trying to save money in all perspective as they are in so much trouble. Oracle has become "Begger's Paradise". We will be soon begging for money and technical skills (outdated) if we continue here. Remember what ever we do to introduce AI or ML, we are still not data company.