RSU docs seem to say RSU vesting is void even during the 2 week notice period, not based on final date of employment.
So Oracle rushed to terminate 10,000+ workers 2 days before this year's vesting date. How ethical is that?
Please confirm or dispute if you know...
RSUs did vest and get deposited in my account this week, so that's a relief. Though leaving a ton on the table lost to future year vesting schedules.
Oracle does give out RSUs to most mgmt level people in every organization, not just OCI... at least those mgmt with with 4,5 perf ratings or top talent/rising talent profile.
And a few IC5s or superstar ICs have been granted RSUs.
Same. Got laid off 8/1, RSU shares vested 8/3, in my Fido account on 8/4. My mgr told us that for all US-based employees, that should be the case. That said, those documents are really not clear at all.
Fidelity says my shares vesting 8/3 have vested, and I got my layoff notice 8/1
Back on topic for a sec: my shares just showed up in my Fidelity account
Larry has never been ethical. And, John Fowler announced Sun Microsystems had high performance computing blades that were equal to, or better than, IBM's. Guess what happened. IBM went in and saw they did not exist (which we knew were not in the labs,) so they did not acquire Sun. Larry was able to get Sun for peanuts and John Fowler was hired making millions. Bailing in 2017. Larry got out of paying property taxes on his Woodside mansion... I could go on and on. I personally hate layoffs as I went through many. Personally I'm glad to be out of the industry.
Ethical? There is nothing ethical at Oracle. If you were dragging around a $73 billion debt, you would short the employees any way you could.
This is to be expected. Want more of the same, go back to Oracle. Want something different, find a new company.
If you have RSU's vesting, you have a high likelihood of being OCI - since not too many other people got RSU's. Being in OCI with RSU's indicates your salary was also probably inflated. I'm sure they'll vest but it would certainly be just like LE to f you. It has been rumored for a long time that people would be terminated in OCI just prior to vesting because of non-performance. This seems just more of the same.
Post from TheLayoff.com
No others got too but very few and they moved to a quota method (never worked at other tech firms) where only a certain percentage got 4s/5s and then bumped 4s to 3s, 3s to 2s, etc. So in other words instead of motivating employees to do their best and grade fairly you are in direct competition with all your other coworkers. Sure, that always works out. Nobody has any motivation to help anybody but themselves in that scenario.
Oracle is so broken. A shell of whatnot was 15 years ago. They need to ditch some higher management and get some fresh ideas but they are now in the position where individual managers nor managers want to come work here.
MG and SC would be a good start. MG should work at Home Depot she’s such a tool.
People in the US who where notified are still technically employed for the next two weeks, and so those RSUs that vest this week will be delivered.
the RSUs DID vest on 8/3, but he got his notice on 8/1 and didn't get the normal "your >shares have vested" email.
I am not terminated, my RSU have vested and i also did not get the notification.
I actually checked my email history and this is not the first time it is happening for me.
I heard that the folks getting laid off WILL get their shares due this month vs prior layoffs where the timing wasn’t favorable.
Is this not the case?
5% 10,000 employees?
@zfo+1i2ehPDb. I was referring to the person who said, the RSUs DID vest on 8/3, but he got his notice on 8/1 and didn't get the normal "your shares have vested" email.
@opx+1i2ehPDb - You can't sell unvested RSUs. They are not available for you to sell they they are fully vested. So many had RSUs that were going to be sellable in a few days, and they got terminated and lost them all.
Do only managers get RSU's ?
In this case, can you quickly sell your shares? Or does it not matter, if Oracle wanted them back and you already sold them, they'd take other Oracle shares you have (vested in previous years) or the equivalent in cash value?
I did not get the normal "your shares are vesting" emails and while fidelity says "vested" I think they worded the grant docs to be the earlier of notification dates so Oracle can void them. Time will tell shortly.
Fidelity says my shares vesting 8/3 have vested, and I got my layoff notice 8/1
I guess if you get your notice today then it is still valid.
But yes, that was their answer to raises for some (like 5% of workforce). Imagine if that was a key criteria for getting rid of folks. Snakes.