Why are people being transferred to Oracle Global Services?
They say it makes no difference, but a separate company where Amex cards had to be re issued in the new company name.
Is a big split/sell off on its way?
Post ID: @ZOkpRYn-1oha
So, why is this being done?
Only oracle needs to hire a ringer - that alone tells you all you need to know about the people running the place
GBS is a new corporate structure to handle debt and costs differently from the main corporation. All of Oracle reports into RG or MH. The MH side of the house is going to "melt away" globally.
Sorry, no that's just not true. All of Oracle doesn't report to RG or MH. Globally (you can confirm this in Aria) the employees are split between MH (sales & support) LE (development) SC (legal, finance, policy and business practices-policy).
RH reports to MH and while MH may be melting people away (that's a terrifying visual) he only has sales & support people- not the rest of the company that does the behind the scenes daily work.
Why is this activity such a big deal? If it's to expedite or "hide" layoffs, there's nothing you can do about it except decide if you want to wait for a package or bail out now and start looking. The legal maneuvers or finance manipulations for tax purposes are an ongoing thing and not up to a vote by employees. I'm waiting for a package but there's no reason to freak out if you need the security of a new job - go get one now.
“Even if there are layoffs in September, within 3 weeks, the brass will rehire the same number back and more.”
A true sign that company is swapping out “old heads” for fresh cheap youngsters. Like IBM as documentation by ProPublica.
Even if there are layoffs in September, within 3 weeks, the brass will rehire the same number back and more. They can not help themselves. They have to maintain their empires.
Does anyone have the FAQ with the explanation?
EPS, EPS, EPS - think EPS that’s all that matters to the 3 stooges. Why? Oracle revenues are declining and have for a number of years. OCI Gen2, gen3, gen-whatever will not change that.
All thatyledt for the 3 stooges to do it manage EPS - they have been reducing costs slowly and buying back mind boggling amounts of oracle shares spending tens of billions. Cash will run dry that’s a know fact. That leaves them with one lever and one lever only COST CUTS and that my friends means Big time LAYOFFS. No other way to go. Trickle will turn into a torrent! Get out ASAP to save your behinds!
And on top of the internal corruption and dirty tricks going on there are still the two biggest factors:
Oracle's customers hate oracle
Oracle's employees hate oracle
How can a company like that survive. Customers will NOT come back once they have left. A lot of the employees don't care, because there is nothing they can do individually to make any meaningful change to the customer situation. Marketing is trying to cover up the problems internally, but the customers are seeing through that. Oracle is not going to make it.
In terms of leaving you should consider your age. After 50, it's difficult to market yourself in an industry that wants to hire young. I think if you are in your mid-forties or earlier, you should be making an effort to get out now. You don't want to be in your 50s when the ship goes down and you get laid off.
I don't think there will be big layoffs in September. Oracle moves very....... very...... slooooowly......
Senior people have left, as pointed out on here many times. Things were in disarray before that even happened. It will take time for the management to sort things out and re-org. Then the re-org will be bad because it will be based on the ego of the managers/vps/directors, etc. They will focus on how the org chart looks. Like making sure they each have the right number of reports, rather than on what those reports do, LOL. It will be ridiculous, guaranteed.
Any reorg won't help. Things will continue to be a mess. Then maybe they will get to layoffs by next spring again, at least that's what I think. By then, more stock buybacks will have occurred. LE still won't grasp the corruption that exists in the company where everyone in management is screwing every other manager. He won't get that, he won't even be close to understanding what's going on inside his company. All information he gets will be carefully prepared and massaged so that he will know nothing about why his company is going down the drain.
Everyone is lying to everyone else in the company. Each manager is just trying to manage for the moment, to maximize their bonuses for now and screw over anyone who won't help them with their own ego fulfillment.
The company is totally screwed. The outward appearances may be managed for now so that the market doesn't get wise to what is going on internally, but it really is effectively over. It's just that there is a lot of cash piled up and it will take a while for it to go down. And Oracle is so big, that a lot of people are in denial that it can collapse.
Like the Titanic, it's such a big ship to be on, it's hard to believe it can sink beneath the ocean.
I think layoffs will be in September.
Before the "blah blah" guy arrives, I don't claim to have any insider knowledge on this. It's just that in my experience that's when layoffs have happened in previous years, at least that's the case in Sales.
I'm in Sales and been here for 3 years and each year layoffs happened shortly after Q1 ended.
So if there is a big one coming, maybe that's when. Maybe they're prepping for it now.
Oracle doesn't have a problem laying off people. It has a problem laying off people openly.
This is a way for them to sweep the layoffs under rug. I would expect big layoffs this coming year. They are about out of money, at least they can't spend another $36B this year on stock buybacks. They are going to do something big this year, and this is the start of it.
Um, nope. You're basing your "knowledge" on 6 year old articles and Hollywood movies.
There are over 100k registered companies from Facebook, Intel, to startups. Mostly companies are looking for tax havens or low-tax areas. That's the motivation. Period.
They are actually moving off from Cayman Islands.
Posted 2018
https://www.accountingtoday.com/articles/corporate-america-flees-zero-tax-caribbean-havens-like-the-cayman-islands-and-bahama-after-tax-avoidance-crackdown
Also one could easily point out many country, state, and regional layoff and employment laws that actually protect and supersede country of incorporation. And I could list a catalog of GAAP, SEC, and Financial laws that you are blissfully ignorant of.
Besides that, you actually think Oracle has a problem with laying off people now? That's quite the contradiction of the ongoing theme here.
If you’re being transferred into GBS you are being set up to be laid off,
It’s as simple as that. Part of LE global melting process.
So the conspiracy du jour is a 'shell company' designed to hide expenses and layoffs. Gee, does it happen to be registered in the Cayman Islands too!!?
Global Business Services is Global. The "conspiracy" as you call it is real.
Yes, it is registered in the Cayman Islands. And yes as you are aware many of these organizations have been recently restructured. Several corporate entities have been registered in the cayman islands and yes it is used by Oracle for offsetting taxes and funneling expenses
This is an archive and does not reflect the new GBS in the cayman islands. You can google that, and I bet you it shows up here in a few months. The bet is when it does show up, you stop posting. If it doesn't I'll stop posting. I'm just to lazy to find it right now. Accept the bet? When you do we will find it.
https://www.sec.gov/Archives/edgar/data/1341439/000119312510151896/dex2101.htm
BEA CrossGain International: Cayman Islands
BEA International (fka BEA Cayman Holding III): Cayman Islands
Oracle International Holding Company: Cayman Islands
SPL WorldGroup International Ltd.: Cayman Islands
Sun Microsystems (U.A.E.) Ltd.: Cayman Islands
https://www.business-standard.com/article/companies/coke-oracle-intel-use-cayman-islands-to-avoid-us-taxes-109050600023_1.html
Coke, Oracle, Intel use Cayman Islands to avoid US taxes
The Caymans have no corporate income tax for companies incorporated there. The Caribbean island has helped scores of US companies, including Coca-Cola Co and Oracle Corp, to legally avoid billions in tax payments to the US government, says US Senator Byron Dorgan.
“Our Main Street businesses are working hard during this economic downturn to pay their fair share of taxes,” says Dorgan, 66, a North Dakota Democrat. “Some of the country’s largest corporations are using these loopholes to avoid paying their fair share of taxes. It is my hope that the Congress will quickly take action to pull the plug on tax breaks that subsidize runaway plants that move US jobs overseas.”
One quarter of the 100 largest contractors with the US federal government, including Altria Group Inc and Tyco International Ltd have had subsidiaries in the Caymans, according to a study by the Government Accountability Office. At least 10 of the 30 companies listed in the Dow Jones Industrial Average have had units with addresses in the Caymans.
As of November 2007, 378 US publicly traded companies had at least one significant subsidiary in the Cayman Islands, a GAO study found. Altria, Tyco, Coke and Oracle still have subsidiaries in the Caymans, according to their most recent SEC filings. Seagate lists its headquarters in Grand Cayman.
Its pretty blatant what Oracle is doing with GBS. LE himself said he was going to "Melt away" a bunch of business units. We have a major reorg and this new GBS. And this is somehow not related to melting away unprofitable old technology? Right. They aren't really trying that hard to fool everyone. But most people want to believe everything is ok because they don't want to look for a new job.
Keep making excuses for what LE and MH are doing. Go ahead, rationalize this information away too. Take my bet... Oracle GBS is now in the cayman islands too.
LOL. Now that's a fairy-tale.
Yes, this is a tinfoil hat layup. They post about an event to set up for wild, bird brain conspiracies.
So the conspiracy du jour is a 'shell company' designed to hide expenses and layoffs. Gee, does it happen to be registered in the Cayman Islands too!!?
Someone has been watching too many cliched B rated Hollywood movies.
"GBS will aid in the melt away process as the reporting for restructuring cost of employee severance packages won't show up on the main corporate quarterly 10Q and annual 10K reported to the SEC."
LOL. Now that's a fairy-tale. Your understanding of GAAP, SEC, and financial reporting is laughable.
GBS is a new corporate structure to handle debt and costs differently from the main corporation. All of Oracle reports into RG or MH. The MH side of the house is going to "melt away" globally. GBS will aid in the melt away process as the reporting for restructuring cost of employee severance packages won't show up on the main corporate quarterly 10Q and annual 10K reported to the SEC.
Basically Oracle can sweep the melt away mess under the GBS rug where it will dissapear quietly.
" it doesn’t say anything about why oracle is really doing this which is the question here."
So you just want rumor and speculation instead of the published FAQ?
Sure, it means nothing yet means everything. it means whatever you want it to mean.
The published FAQ is a wonderful fairytale, it doesn’t say anything about why oracle is really doing this which is the question here.
If you work for Oracle it's all in published FAQ, including which jurisdictions get new cards and which don't.
If you are a journo on a fishing expedition then GFY.