Taking into account the company's cash position, have you considered the possibility that you may not even get a severance?
18 replies (most recent on top)
@n6 True, but it is considered "usual and customary" for large employers to provide some severance during a layoff. Smaller employesr? You might be paid through the end of the pay period.
When HP had its massive bloodletting during MH's reign of te---r, the severance payment became smaller with each layoff, but was severance.
@OP Companies in the US are not required to pay severance. Cr-ppy I know.
@kc Nothing happened to the severance package. Some folks speculating is all.
Whoa, wait. What happened to the severance package!?
NDA you say? Have you actually seen the severance agreement? I was expecting NDA language, but really don't recall any. But yeah, very comprehensive language that you will not be suing ORCL for any reason
I don't think they care really.
"severance way below what it was. this is bad. anyone waiting or hoping for it is in for a surprise.'
Not so bad outside the USA, but be happy Americans can count on their social services and heath systems :-(
@gm yes, severance way below what it was. this is bad. anyone waiting or hoping for it is in for a surprise.
@OP Or perhaps that they will select employee locations with the weakest employment laws.
they gave me a severance, wasn't massive but something.
AI on here is not real.
@bz Just curious, how do you know it's because you have Oracle on your resume?
I know none of the job postings I looked at seem to be using Oracle products, so none of my experience with the products is going to help. I just hope the activities I engaged in while supporting it will work in my favor.
Something messy, called the law!
With Oracle holding lots of Visa holders, without Severance it might face lots of hurdles. Also Oracle is a genuine employer.
Only cases it might trick out is
- Pumping employees to leave by themselves by pressurizing them
- Performance rating
- Stock Grants - Oracle is per year stock allocator and it might swallow your stock grant for the year and those holding stocks are major targets. This indirectly helps to bump up the stock price.
The biggest challenge I face with Oracle is
NO Employer is willing to hire with Oracle in my RESUME.
@an Okay, it's not a thank you gift, it's for you signing an NDA and never suing them.
Of course, severance is not in the contract. It's a thank you gift on your way out. No company has to pay severance. You'll see more and more companies begin to decrease the severance payout as the economy turns into a dump.
@a1,
Severance is not about "image", it's the carrot they give for promising not to sue.
They wouldn’t do that. That would be pretty bad for their image