Do you think the severance package was fair in the latest layoff? I got into an argument with a coworker because I was going off on the company and he said that at least the severance was more than fair and will provide the people who were laid off with financial security that will last them long enough to find a replacement job without stressing. I think that's ridiculous. Am I wrong here?
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You're ability to get unemployment compensation if you received severance depends on the state you're in. You'll have to contact your state's unemployment office to find out if and when you'll qualify.
I made, I think, the original comment about severance blocking unemployment benefits. Laid off in the late summer with a lump sum calculated for x weeks (sometime in Jan) my state determined that I was not eligible for benefits until the number of weeks that the lump sum payout was calc'd on had passed. I just started receiving. If that's not how things should work, maybe I need an employment attorney. Lots of applications, few callbacks,.couple of initial interviews. Don't want to work at O or even with O tech but I may need to s— it up and fall back on that.
That depends what you mean by "the latest layoff", what country you're in, perhaps what part of that country, what package you got, and whether or not everyone in the same grouping got the same package. As to fairness ... many people employed by Oracle are in 'at will' environments with little or no legal requirement to give a severance package; in that case, anything more than nothing is more than fair.
Answer honestly?
I’m not sure but I think we have all just been insulted.
The person claiming no unemployment because of severance is mistaken.
More likely he's trolling
Trolls have greatly reduced the value of this forum, since they flood it with BS
They provide it bc its defacto for this industry.
Actually, term is "usual and customary"
For example: "unlimited vacation time" is becoming "usual and customary" with larger tech employers.
There is no law in California requiring employers to offer severance packages. An employer is only obligated to give you severance pay if you have a previous agreement to receive it. Good to read the employee handbook or understand what the company does in these situations before starting a job!
After 8 yrs at Oracle I was RIF the day before Thanksgiving 2020....Happy holidays to me, right? Life goes on, but I would expect nothing less than from a company that failed to provide COLA raises or any sort of raises to non-revenue generating departments for the last 5 years of my employment. Lucky me was prepared! I received RIF notice of 2 weeks, but had already lined up new role to start in 3 weeks so was only out 1 week. As previous comment called out I didn't let my skills become Oracle centric and was just keeping nose down through COVID until something came along! Was I happy with how they calculated severance? No, especially because they blew up the PTO system as also already mentioned which left only severance deal. Was I happy with having to sign away all rights in a 5+ page non-disclosure document that if failed to sign then I didn't get severance? No way, but I did it anyway. At the end of the day, I walked away from a company that doesn't care about employees but more about the mighty dollar or bottom line. The fact that they do RIF's in small batches regularly every quarter to stay under the radar of bad publicity or national recognition/call out should say something about a company, right?
Not good time to be out of work even with a good severance package. I was made redundant last year, I found another job in about 3 months, the experience was very stressful and the job market seemed almost blocked. I was lucky. I had 14 years of oracle, too much indeed, I so much regret staying there for so long. Oracle skills are outdated, I realised nobody is using oci and oracle database is used only in legacy systems.
Let my people go!
NO IT'S NOT FAIR! How can someone say the severance is fair when you can't even find work right now since most folks are working from home??
Two questions for you:
- How long were you at Oracle?
- While you were at Oracle did you let your skills become too “Oracle centric” and languish?
I ask because some others on this forum have claimed that there is plenty of work out there. In my own case I’m terrified of being laid off because I have been at Oracle so long that I’m no longer marketable.
If you are paid out in a lump sum, you do not receive an unemployment benefit for that week. If severance is paid out over weeks or months, you do not receive unemployment the weeks you receive a severance payment (or you receive a reduced benefit depending upon what your unemployment payment is). I know this first hand.
NO IT'S NOT FAIR! How can someone say the severance is fair when you can't even find work right now since most folks are working from home?? Does the person who said it is fair listen to any news?? We are at 10% unemployment! Get real and stop dreaming!
The person claiming no unemployment because of severance is mistaken.
Severance does not prevent you from claiming unemployment benefits.
It’s really a moot point. Severance is given at the largesse of the employer. There is no law, in fact Oracle skirts those layoff notification laws at every opportunity. They provide it bc its defacto for this industry. And with their layoff machine constantly in motion could you imagine the hit to their rep if they just put people on the street with nothing not even earned PTO? Bc they blew that up too. Severance pay has gotten more stingy, not less, over the years.
Your co-worker is either young and naive or just a d|ck.
Mine did not last long enough for me to find work. Still looking. No income. No unemployment because of the severance.
Sad to see that the owner of the company, allegedly one of the richest men in the world, provided minimal packages & healthcare during a global pandemic.