I'm on the Support end of things. We lost several support people on our team, plus some upper management.
I've already started looking for jobs outside of the company...Are more layoffs in August certain?
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yes, slow but sure...Development —>Support—>Out..All number game...Love development
Oracle’s house will resist the cleaning it really needs. Lies will be told, the better people maligned and laid off. Leaving the scum to float to the top.
The layoffs are definitely not over. The only question is when, and that's largely determined by how quickly Redwood HR can get the paperwork done.
ORCL stock was $54.95 at the close on 7/2/20. It was $52.13 in 3/2018.
CRM is up nearly 90% over the same time period.
Despite the biggest bull market in history.
Despite $75+ BILLION in stock buybacks to boost the stock price.
Despite billions invested in OCI and debt borrowing to finance it.
Despite multiple rounds of layoffs.
SC, DJ, VK, and LE have no more cards left to play. Their only choice is massive, further layoffs to cut costs and hopefully get the Street to notice. Entire offices will be shut down.
The answer is YES. See the other posts on this, like the one with news from the SC level.
ORACLE IS CLEANING HOUSE!! Prepare. Get your resume, LinkedIn, networking, up your ZOOM game.
Especially if you are in the no cloud side of the house.
Is that even a serious question?
Here’s a hint. Oracle will stop only after it ceases to exist.
Oracle has been RIF-ing it's way to happiness for years now. It will continue.
“ . . . we lost at least 100+ folks. I survived. Also there was a hiring spree in Guadalajara for Latin support and we lost SR engineers who interviewed those people.“
You don’t find the timing of that suspicious? At the least they are obfuscating their intent to execute a lay-off that was already planned. You can’t trust this company.
In a all hands meeting we were told this was totally unexpected and the layoffs are over. In my support center we lost at least 100+ folks. I survived. Also there was a hiring spree in Guadalajara for Latin support and we lost SR engineers who interviewed those people.
There will be more in August. I have first hand knowledge of it.
Given the severity of the cut from Support (about 500 from what I hear), there should be calm on the RIF front as reorgs commence in the next couple of months. Then a possible RIF revaluation happening again next year.