There doesn’t seem to have been any strategic assessment of ongoing projects or team structures. My team is literally falling apart, and it's only going to get worse. We've lost people who were critical to anything beyond routine backend tasks. What’s the point of such crude cuts? It feels like they’re more likely to create long-term problems than solve anything.
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@19r RSU == restricted stock units
They are basically stock awards (not stock options) that incrementally vest over time. When they vest they are yours and are treated as income at vesting, with income tax withheld.
Since they vest over a few years, they are a form of "golden handcuffs" as you will lose the unvested ones if you quit.
@19r RSU are stock options which are vested and released every year around September. The beautiful thing about them is you get nothing if you are axed 1 day prior their vesting day in September. That's presumably the primary reason why the best engineers are usually axed around this time - they have several RSU packages ready to vest every year, which can exceed their annual salary. So to accountants running Oracle it looks so lucrative to lay them off both saving on large salary (since they are the best performing people) and large RSU package representing a lot of money they promised (often instead of salary hike) and now sn---h back.
@k8 d-mb question. what is a RSU?
those poor customers. We could barely keep up with SR's with the full team. now 1/2 of them are gone. time to resolution will be much slower. of course the high command doesn't care.
they cut 1/2 my team and somehow I was on the list along with the newer people (i have been here 30 years. must of not realized I su-ked. he-l I got a raise this year. awards ect.
guess that doesn't matter
What mattered is your RSUs Safra wanted to claw back before they vested
@an "It’s called as surgical action."
Seems more like carpet bo----g to me.
they cut 1/2 my team and somehow I was on the list along with the newer people (i have been here 30 years. must of not realized I su-ked. he-l I got a raise this year. awards ect.
guess that doesn't matter
there must be some way to deduce how the selections were made?
@dq If you want to get RIF'd then you probably won't be.
"They" will hope you quit instead because it's cheaper.
You won't want to be in a role where you are either accountable or responsible.
Do the "best" with the resources you are left with.
Pay no attention to objectives or end of year reviews as they are meaningless when you are told each year that there isn't going to be a focal.
Quiet quitting will increase and morale will plummet further.
I am 5 rated IC5 waiting to be culled first week of September for a sole reason of large RSU package to vest mid September. Accountants run Oracle, they couldn't care less about individual performance.
I was personally let go from a team that had already been stretched beyond thin after the March layoffs. I was working on something that literally no one else left on my team is qualified for. Hate that I was let go, but still being there now might actually be worse.
@OP This time around VP/Directors were handed a pre-picked list from above, no input allowed. Unclear who or how the decisions were made - or if the "algorithm" they used got it right. Based on what I saw, there were lots of 4 and 5 rated highly productive employees (young and old) working on what we thought was important projects let go. Maybe they get called back when they figure out what's broken? Never seen anything like this.
OP, were you the manager and had no say to who was hit? Or are you talking about your team members?
Either way, did you see any pattern? Age/salary/experience/etc?
It’s called as surgical action. Overbloated orgs are cut like cancer cells. Working from remote is no option anymore. NFR’s will be removed like infra, build, security and they have to strictly move to oci structure.
Depends.
When they added you to the list for next week's action it required no thought whatsoever, a complete no-brainer!