I get their strategy of laying off experienced workers with a bigger pay, not that I approve of it, but where is the logic to laying off people close to achieving their pension?They just end up losing an experienced worker who could, very well train its own replacement, and they spend more on severance and the new workers pay, then they would have spent by allowing the older worker to reach his pension.
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No pension. Nearly ALL tech companies do not offer a pension.
1 the 3 stooges are ageist a--holes - look at the rate that LE is replacing his assistants when they age
2 they think healthcare costs increase with age and want to save on them
But there isn't any pension plan - no matter what country you're in. Other countries may have the equivalent to social security but Oracle has no in-house pension plan. I don't recall they ever did but absolutely no pension currently. I agree that there's no reason to keep or not keep people based on their personal retirement wishes - thats not Oracle's problem, it's up to the employee to fund their own retirement.
Oracle is a global company and, as such, local countries have different benefits packages. Social Security is strictly a US structure.
Oracle has no pension plan, so there's no benefit to either side to retain old people waiting for their social security to kick in. The logic is always what's in Oracle's best interest, there's no consideration to training (very little training ever happens unless it's the self-training) or a smooth handover to a new worker. Since Oracle cares nothing about supporting customers, they have no interest in maintaining engineers who have experience. If you can read the support and development notes - that's all the support you'll ever get from Oracle.
No pension in Oracle , mate !
Where have you been