During a layoff does Oracle pay accrued vacation dollar in addition to any 'package' they offer?
11 replies (most recent on top)
@OZneWB4-1ozx Can you elaborate? Are you saying the date for the recent severance package is based on the date of the Sun acquisition and not your start date at Sun?
When I was riffed in '15, the date of the sunw acquisition was the date used for package. Which s---ed.
If you sign up for COBRA your health insurance coverage is reestablished retroactive to your layoff date, and your cost is also charged retroactive to that date. So if you don't intend to carry COBRA long term then you ought to either get on the ACA insurance exchange immediately to sign up, or sign up temporarily for COBRA while you sort out other options
"How about service years in Sun? "
Yes, it's counted in the package.
How about service years in Sun? Will it be included in the package? Just noticed that the paycheck report the hired date only from 2010 when Oracle acquired Sun without including the Sun work time as well as the employment history in the self service app - is this expected?
Removing accrued vacation is precisely why oracle moved towards "unlimited" vacation.
The timing of that was somewhat suspect to burn down vacation while laying off people.
If you're in California at least, vacation is treated as an earned benefit, and must be paid out if you have any remaining. It's paid at the hourly wage at the time of layoff (or an average of a preceding number of weeks).
Does anyone know if 401K will be taken out of these last checks? Also, What percentage in tax withdrawals can we expect since these will be larger than normal checks.
Yes, being a California corporation, Oracle pays you for unused vacation. This is in the employee handbook. Companies like Dell that are based in red states like Texas don't.
You will get a package in the mail with a check. The check will be for the number of days since the last paycheck. Vacation and any unused ESSP $.
You will then wait several more days for a severance package packet. It includes a lot of documentation about cobra and other things. In that packet is a form you have to sign and send back to Oracle. This document states you will not sue Oracle.
You send this back and it takes about 10 working days before it shows up in you account.
This is not a quick process and you lose you insurance benefits the day you are laid off.
Yes, but it will be in a separate check.