They did pilot layoff on Tuesday on OCI support organisation, and that's it.. radio silence... They are rumours by end of March... Does management spread this rumor.. or directors spreading this rumor... The wait is ki-ling... Constant thinking... I may get diabetes or what...
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@f0 "Cheaper to get healthcare on state exchange vs cobra."
That was not my experience. Without subsidies Obamacare is very expensive.
@kb not getting any new work to do is a bad sign.
@bx I don't think anyone would suggest just sitting on your hands while waiting for your number to come up. I'm using the time to get some certifications on Oracle's time seeing as they're insisting on me using my own dime and not giving me any new work to do.
Cheaper to get healthcare on state exchange vs cobra.
Start applying for jobs now, if you think you might get cut. Better chance of being hired and not discriminated against, like many companies are treating people who were RIF’d.
Took me 4 years to find an FTE job. So many contracts and comp has gone down dramatically
As my manager said: Only rumours. My heart is about to fail because of the pressure, not able to sleep more than 3-4 hours on the night, just falling to pieces.
@b8 don't you think the primary focus should be having your next job lined up as a priority over collecting severance? I would rather have a new job and would take that over staying around to get severance and potentially not having my next job. Severance won't go as far as you think. The tax man is going to take a big bite out of whatever you get. I have gotten severance before and it doesn't go far. Severance is income that gets added to the money you have already earned so it is effectively taxed at a higher rate than you are used to. It may push you into a higher tax bracket. Plus Oracle's medical benefits coverage is horrible. A month of COBRA is nothing. This means in month 2 you will need to pay around $1500 out of pocket for medical coverage. A different tech employer gave us 12 months of coverage but times are changing and severance packages are shrinking. It is a tough job market so factor that in.
@b3 You'd think O would sell off businesses that don't fit into their long term plans. As long as these lines of business are profitable someone will buy them. Then LE can take the proceeds and build another AI data center.
@ax You are right. Oracle follow policy to scare employees that way they can leave without collecting any severance package..
Stay until they layoff and collect your hard earned severance package from this useless and ethic less company..
It's really worse than that, for whatever that you think of. Oracle is transitioning, then want cloud and they are actively ki-ling their other lines of business. I don't care what you're selling, if you make a statement that you will support it to X date, not just your current but future versions. You just put an end date, might as well just say after x + 1 day we won't support you. Now, anyone shopping knows that the closer they get to x date the less time they will have to migrate away. So, Oracle will derive more and more of their income from the cloud as they drive away there non cloud customers.
fwiw everyone in the team I'm in has been feeling like that for about a year now, because that's when the layoffs ripped through our LOB. Ever since then we've been waiting to find out which layoff round will finally finish off us. If the hiring market wasn't so sh-t we'd have left of our own accord, which I think is the intention so they can keep the cost of severance down.