Its 2 weeks first year, then 1 week per year after.
9 replies (most recent on top)
Wait for HR to catch up after Labor Day and a big pile of packets to process.
So, I have not received the severance pay yet.
I sent that signed agreement end of last week. Should be in their California office on Monday (Sept 2nd). Is there anything else I must do to get the severance pay?
If you had accrued vacation time before they went with the laughable unlimited time off policy, you will receive all of that, per law, with your last paycheck. Oracle owes that to you and the real reason they switched to unlimited time off is bc they have to hold all those accrued hours on the books as a debt to employees.
US severance is a 2 weeks severance plus 1 week for every year of service with a 26 yr max. The 4 weeks upfront is discretionary although I don’t know anyone who didn’t get it. And it’s not actually severance pay, they are paying you to agree not to sue them. This info comes from my lay-off package from earlier this year.
"No one accrues vacation time at Oracle"
If you're hourly you still accrue.
No one accrues vacation time at Oracle and those who had accumulated vacation time got it burned doff by Oracle at Christmas shutdown, which is “forced vacation”. Bottom line is nobody has accrued vacation any more, having a cash value that would need to be paid by the company if you leave.
If you are from an acquisition, check the date they are using as your start date. I got my Oracle start date calculated payout. Not based on the start date with original company, which I thought would be used. Maybe I misunderstood the policy. That’s just my experience
Base only. And you get any accrued vacation, again at the base rate. Near as I can tell, this is NOT negotiable.
Do they use base salary or base + variable? Anything extra for accrued vacation time?