Hard to understand why promoting and retaining strong people seems like a last resort instead of a priority. It costs less, keeps teams stable, and boosts morale. But somehow leadership still chooses to push people out and start from scratch every time. Where's the logic in that?
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Other reasons:
Like Microsoft, Meta, etc… Oracle is in this AI gold rush and must find ways to save billions to reinvest it in AI
Finally, LE turns 81 on Sunday and top executive management team must please the King , with these cost cutting measures , for his birthday
the stock almost doubled while I was there. I notice for somebody I know who got laid off last year it was roughly the same thing the stock had doubled during their tenure
Oracle doesn’t want to be the next Jurassic Park, full of dinosaurs
Tech companies don’t like expensive dinosaurs; at Meta, Microsoft etc… if you are in your late 40’s you are automatically replaced; Oracle doesn’t want to be the next IBM; the other reason is AI : it can replace large majority of developers etc…
The last reason is jobs can be outsourced to low cost areas at a fraction of the salary in North America
@a1 I don’t really understand though. Our code base and product is huge, it’s expected the first year that you’re here (new grads especially) you won’t be contributing much. Why layoff the old ones who has already have the knowledge (and potential not a lot of money because they’ve been staying in one place for too long) go?
The real goal is to have people work 80/120 hour weeks for 2 years and then discard them. New hires will do this thinking that they are making a mark for themselves. People who've been here a while see the pattern and stop doing the extra unpaid hours, they are the ones on the exit ramp.