Thread regarding Oracle Corp. layoffs

@cm I had a friend, just a normal worked bee, who was caught up in the latest Verizon layoff and, if I'm not mistaken, received six months of paid healthcare.

He hated getting laid off, of course, but the paid healthcare allows him to breathe for a bit.

@ak+1kn4b96wr

You said. "Other big tech layoffs provided several months of medical after the final end date."

So, name the other big techs that you say provide several months of medical after layoff.
When I was laid off from a Fortune 500 company my Medical Insurance ended at the end of the month of my layoff date. Only option I was given was COBRA which I passed on. I went out and found another job and never looked back.

Try getting 26 weeks severance (the "maximum") after 25+ years in multiple roles with the company. Many of those years with zero increase because "times are tough", knowing full well any salary increases were absorbed by the layers of managers above.

@OP here again.

I am not looking for sympathy or pity, I have savings and my retirement plan is in good shape. Maybe I won't be going on holiday for the next while, maybe I will have to stop eating out as often. But I will be fine.

The way people are being treated here is nothing short of disgraceful. If this was very under-performing employees who were being managed out the door, it would be understandable. But for long tenured employees with good track records, it's brutal. Getting an e-mail and being locked out of my machine is contemptuous. Having the exit date set from a week from now and having my health insurance effectively cancelled from there is disgusting. The payoff given my length of tenure and the significant contribution I have made to this company is an insult.

In WA with WARN activated, the severance package was offset by the 60 day notice period. Laid off IC5 here.

Do you believe you are entitled to better?

@a4 This is a joke, right? I also joined Oracle in 2010 and thankfully left in 2021. Always got great performance reviews, but my team and I quit even filling them out because they meant nothing in terms of a raise or bonus. Like many there, I went years without so much as a cost of living raise, and I was never granted a single share of stock. That is standard for many in this company -- all while working for one of the richest a--hats in the world. If I hadn't gotten out and joined a company that treated employees like the asset they are, I would never be able to retire.

@a4 its called not saving, paying for relatives/parents care, repair costs on the house and
flat over spending. oh, an no raises for decades.

@aq as a victim of the last august riffs, yes, at least prepare yourself to be doing labor.
but even finding those jobs are hard. I could work at Walgreens if I wanted for $15
an hour. Very Sad.

You could probably find work in the south, but if you're over 50 your f'ed. 30k people injected into the west coast unemployment that is already oversaturated is going to nuke anything left. Competing with H1b's for even low level jobs is impossible, and children just out of college are getting the rest.

Better have a good back and knees because you're going to be doing labor.

The real kick in the cr---h is the termination of medical on Apr 10. Other big tech layoffs provided several months of medical after the final end date. This is just even more nauseating with all of the recent bs they have been spewing about career development and caring about how employees can grow in their existing or new roles. What an absolute joke.

if you sign the docs you get the severance and can't sue. Hard to prove ageism but we all know that's the case in many instances.

US-based employee RIF’d in Sept 25. The ‘enhanced’ severance was 2 weeks for the first year and 1-week for each full year thereafter up to 26-weeks.

We were retained until RSUs vested in mid-Sept. LE at the time was either 1 or 2 richest person in the world.

Mighty magnanimous of him! 🖕

Three letter word: sue

You don't have stocks that you can sell? From vested RSU?

@a4 honest question ~ do you ask your question from a position of generational wealth or have you been living under a rock these last 2 decades ?

My opinion (if it even matters) is, don’t stop hardworking or giving your best. If it’s not Oracle, someone else will hire. The world hasn’t ended.

And for the @OP, that sounds like decent severance. You may additionally get unemployment benefits from your state.

@a4 you think 15 years builds a complete retirement portfolio? If this person joined out of college they are around 36 years old, even if they had experience before that they are likely in the middle of their career, generally retirement is 65. If they are much older they’ve live through several rough patches in the economy to try and build back from.

In some countries the maximum severance is 5 years , (60 months , 240 weeks) of salary . I believe you're doing things wrong in your country

Young people reading this post should print it and frame it as a reminder of ‘how it ends.’ It is often pointless to go above and beyond for any company especially this one who does not value its employees efforts and loyalty. OP hang in there. It’s going to take a few months to adjust to the unwanted changes that came your way. Eventually you’ll find a new gig and O will be a distant memory.

Honest question, after working at Oracle since 2010 as an elder American how are you not retired?