@de so it's all good then? That's not very many.
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From public available information and news articles the original 1.6B was for 10% worldwide. With about 160k employees that’s 16k, so the maths is easy, and an extra 500M is about 5,000 not 45K.
@cn layoff by batches- 3-5 phases
@cm if Sep/ Dec has been 15 K aprox - this means still 30 K , 10% cut in my LOB end of March , assuming is 10% company wide now - 16 k and another 10% when ?
Including previous layoffs
@ag Severance packages in the US have been consistent over the years: 2-4 weeks plus 1 week for every year of service, capped at 26 weeks. Plus one free month of cobra.
Garden leave was a new benefit in 2025, which kept the dejobbed on payroll and benefits for a few weeks. No idea if that was a one off or if it will become standard.
May be look at the wording around restructuring in that doc. Could also be spent via an acquisition.
@af well the 45K article didn't give much timeframe, so that number could be spread out through the next year or so. Bottom line, everyone inside and outside the company except Oracle management is speculating.
@af financial reports are a record of what they did during the past quarter not a contract for the future. The can add additional funding for restructuring/layoffs at any time and report it in next quarters update.
@af What if severance packages will be a total joke?
No. In their financial report from the earnings, it clearly states they have $1.1B left to expense for severance. Which equates to 10k to 15k based on past severance packages. That 45k article is BSing.
Just read about the pending layoffs and have to say I feel bad for anyone working at Oracle, or anyone in tech for that matter.
Yes buckle up, block just did 40% layoffs
Sure, but not all this quarter. More like 8K every quarter for the next 6 quarters. Put another way, if you survive that long you will be able to add "musical chairs survivor" to the skills you list on your cv.