There will be 9-10% RIF or Performance based layoff and this is mandatory number. Expecting 3500-4000 minimal number. This reduces Oracle's risk of payment of interests by 10%. the 2027 1Q will not have much layoffs and this time frame + revenue increase is going to reduce the risk for Oracle in the meantime. so this 3 months is going to be your best preparation bet.
23 replies (most recent on top)
@dj whyAugust 3
@dh lmfao. They will still lay you off on the day they have planned.
September 1st will mark 1 year since myself and the entire team I was part of, managers and director included, got cut by group Zoom meeting. Just a small part of the roughly 6000 let go as the beginning of the 'we need $ for more GPU' layoffs. Would not surprise me at all if the company makes it a yearly tradition trying to save a sinking ship when a large % of the billions in RPO gets canceled due to customer lack of funds to execute the 'contracts'.
What are these numbers based on? Is it some financial calculation based on public numbers. Or is it an internal information from some high-level manager?
@j3, Market is full of engineers and resumes. With Microsoft layoffs, Its not right time to enter Job Market for next six months. Best option is to play safe and survival games unless your management is pressing you and heavy likeliness of layoffs.
Another option is to pivot early to another team if you don't have good relations with your management.
Send out your CV now, may be your next big opportunity is out there looking for your talent.
The ultimate truth is jump ships. Be always prepared. If you are citizen then jump every 2-3 years. If you are on visa jump every 5-6 years.
2-3% hikes every year with some years of no. hikes leave you in limbo. basically you are eating your future money to survive today in Oracle. Remember once you grow old you can't work like what you do now. Make hay when sun shines.
@e5 you negotiate it during hire, and then leave after inflation reduces it way below the market average. Oracle never ever keeps its raises even to match inflation. RSU gravy train ended.
@dj What information do you have to suggest this day?
@dh That will not stop you getting selected.
@e5 skip your manager and talk to your second line. you will get promotion and bonus.
Its all networking and visibility in your org.
How does someone get raises around here? I’m making $70k while everyone else around me makes 6 figures!
Expect layoffs August 3rd!
Good thing that I have vacation in September. Will be not reachable by phone/email or anything.
I agree on @da comments. Here is conservative number(minimal & financial) which is required for Oracle and practical number (Strategic progressive)
# Conservative numbers - saving people and projects
Near sept - 3,459 roles
Post sept - 2,798+2,233+1,667 = around 6000 (expected around March)
Total = 10,000 (or around 12.5K if more roles in India and other countries)
# Strategical numbers which will bring ORCL strong
Near sept = 4,150
Post sept = 6,560+4,640+2,300 (Feb/Mar)
Total = 17500 (or around 21K proposed iin SEC reports f more layoffs in India and other countries)
September Financial reporting and investor discussions to determine fate of Oracle.
Validate your projects for Costing, Check if you are replaceable in your Org and your contributions are in track with management's expectations.
Expect more flattening of Orgs, specially manager, director roles might fall.
@d6 Oracle’s net income is not nearly enough to pay for its massive capital expenditures (capex), so Oracle has to buy massive loans and payback with interest. Cash is burning. The only hope is the Remaining Performance Obligations (RPO), hope there will be enough staff to do the RPO work.
Safe until September says who???
Thanks Larry for the advance notice.
Expect No Layoff Till September
Thank god, nothing to worry about until then. Carry on everybody!
So you give us an advise to enjoy vacations as next riff round is coming afterwards?
What an insightful prediction... more layoffs. Here is another one, the sun will rise tomorrow and if it doesn't it won't matter... we will all be gone.
I have started looking for jobs and sending CVs out to see the next big opportunity. I'm sure there are better places where there are no year-to-year mass layoffs, fear of getting laid off each month, organizational changes, and stagnation. Better chance of negotiating the salary with the next company while you are still at work.
September would see another new round of RIF. We all knows.