Section: Notes to condensed fin. stmt. Restructuring
Oracle has spent $826M so far ending Nov 30
Oracle has allocated $1.6B in restructuring.
So additional amount $774M is going to be spent in next 3-6 m for sure.
Expected count is around 13000-15000 job cuts based on the above money.
Oracle is in big pit. Here is further graphical analysis:
https://www.appeconomyinsights.com/p/oracle-is-bleeding-cash
Silence before storm. Enjoy your holidays
The money does not compensate for the scars left on long term employees.
@gy yeaaah, and something like “we want to thank you for your effort, teamwork, you are very important to us, we appreciate your work, have a great happy holiday time with your dearest” 😂
Time for another "fun" game of musical chairs. LOL
This year O is giving the employees the most ironic Christmas gift - Update Project Zoom Meetings 🙄
@es , The layoff budget is just one more addon. Earnings report shows much more....
Operating expenses are too high, forcing aggressive cuts to non-revenue projects.
Oracle's stock dip is primarily driven by its $100B debt load and a lack of clear future revenue growth.
Already Oracle is under-paying company. Amplified by financing doubts around the OpenAI deal. Oracle is struggling now and there won't be hikes/money floating around.
Recommendations:
Look for opportunities now. A long tenure stay is not advisable for near future. Employees with Oracle experience often struggle to find new roles because their projects rely on outdated technology or more internal.
Visa holders must start looking immediately due to extended transfer timelines.
@OP Could be a small round for all I know, but keep in mind that a lots of people are still on garden leave. I doubt the Europeans will get their severance until mid January so a lot of the remaining budget will go to already affected people
Get ready. Oracle bohica rating holding at 9.65 / 10.0, but likely to increase soon.
@av on it, applying daily outside of this angst induced place. Used to really love it, now it is mentally draining.. Peace and love.
O employees, please start planning your plan B if you still did not consider it yet. It’s the highest time to do that.
People are already applying outside, time to get out of this sinking Oracle ship.