Anyone sussed it out? Seems totally random. We have lost:
@13j The stock price doubled in the short while I was at Oracle
@ar RSU reclamation process. I'm betting every single person that was caught up in this RID cycle had considerable RSU tranches outstanding.
The discussion here is missing one key metric that HR uses: Every O employee has a "Loyalty Index" (LI). Oracle Adv Analytics (OAA 10 yrs ago, which is now OML) developed the tracking of LI over a decade ago for HR, and they license it as part of the Human Capital Mgmt (HCM) suite to end customer HRs as well. For anyone still on the inside: look up "Charlie Berger" ppt presos from 2015-17 [CB was the Sr Dir in OAA who developed the tool]. This LI-characterization tool pre-dated LLMs, but uses Natural Language Processing (NLP) and "Sentiment Analysis". HR's tool tracks every employee's login/out hours, keyclick activity throughout the workdays (and off hrs too); all web links everybody goes to on their O-laptop, and parses all emails for phrases that signify high loyalty, or "bored/disgruntled and looking around" sentiment. 2 yrs ago, O added the modified O-Zoom that sends a transcript of all O-Zoom calls to a big database of Z-transcripts, which is also parsed for sentiment/loyalty phrases. [We all got a notice from CorpArch when auto-transcripts of all O-Zoom calls started going to HR+SEC, whether the host records the calls or not].
Consequently, an employee can be marked a 2-3 but have a high LI and be dedicated to improving and doing good for O; whereas a "5" with high raises and RSUs can be getting bored and looking outside for new adventures. Employees with the lowest LIs are at the top of the layoff ranking lists that go from HR to the M7's.
I found our unionization song
https://youtu.be/CXskNwIstGw
@ag LOL. That observation seems correct
@dj There is a saying: graveyards are full of "indispensable" people.
That said, firing top performers, who have a lot of tribal knowledge just because they are "old" and "well paid" does seem like shooting yourself in the foot.
Anyway, the stock market seems unimpressed with the layoffs so far. We'll see what the quarterly numbers are next month. IIRC, Safra promised that the rest of the fiscal year would be fantastic. It crosses my mind that this layoff has been in the works for months.
Everyone is dispensable, from senior VP to foot soldiers. When the company decides that you are no longer needed due to a change in direction, entire unit including several levels of management are eliminated, even though there are still customers who need support of the product. You work for a company to get paid, the company needs you to make money for them.
Age, in my case 100% employees over 45, most in mid 50s. Performance was not the criteria (verbal confirmation from hr) and suspect RSU vesting in September as primary driver for targeted individuals on the list.
And then there will be an employee survey with a thank you note. Employees are our pillars...F.
Completely irrational to fire top performers while hiring hundreds in same org
Why not just move them to the teams hiring? Picking random new hire over someone with exceeds rating????? How is that logical?
Yesterday’s complaint: “OMG mgmt and favorites are never laid off!”
Today’s complaint: “OMG they looked at everyone now!”
@aj u, my friend seem to have accepted the dehumanization of “business” as normal & correct. This perspective keeps the cogs moving along dehumanizing us all.
Clearly it's profitable to claw the RSUs back and re-hire.
Why are people shocked. It’s the normal part of the year process. Oracle culling the heard is to ensure we beat the numbers and continue on an upward strategic direction. The increase in dividends does not come out of thin air. Those hit are either not performing or part of a decision not to provide budget. So when faced with that. It’s obvious how it is made. If you are not strategic to the FY see ya. If you perform badly see you later. It’s part of being in business. Oracle is not in the business of caring for employees you rank lower than the stock market. Now if only the news could report the facts that it is not company performance related verses individual performance my RSUs would be worth more. Thankfully the stock will bounce back and people will find jobs elsewhere.
The criteria for layoffs have been officially announced and were thoroughly discussed with upper management. To minimize the impact on high-performing employees, we decided to proceed with the following:
Eeny, meeny, miny, moe,
Catch a tiger by the toe,
If he hollers, let him go,
Eeny, meeny, miny, moe.
In a June filing, Oracle had said that it periodically makes changes to its workforce due to strategy changes, reorganisations or performance issues. "These types of restructurings have resulted, and may in the future result, in increased restructuring costs and temporarily reduced productivity while employees adjust to the restructuring."
This is definitely related to huge AI investments and AI replacing jobs
@ac unlucky people, it seems 😔
When I joined in august of last year, I know that the stock price was half of what it is now and so my rsus doubled. I had quite a few of them so I'm wondering if that was part of the decision
@ab So who is the "real" target then?
half the decisions will be from HR to make sure there isn't any 'bias'
Today was one for the record books. From my side it did seem entirely random, particularly how it targeted high performers (many revered by their peers) and at all levels from SVP down to IC1. Maybe it was an AI human resource tool gone rogue that made the selections? Difficult day for many.
@a3 You mean 100 per team, lol.
i have seen a team (more than 60 people) vanished in a matter of seconds... some of them still taking onboarding trainings ...
It's a disaster, why hiring someone if letting them go later??
Seems totally random to me and unable to pin point were the decision is coming from beyond OCI in general. In a year with record profits reported its very odd to see such layoffs. I would estimate well over 100 employees and counting.