Thread regarding Oracle Corp. layoffs

Oracle profits overstated by accrual reversals?

If it is in fact correct that Director level and higher employees were put on flex vacation and has their carries vacation taken away, then their vacation accruals which had already been expenses would have bee reversed and would have - artificially - inflated/ increased oracle's profits. Notable that such reversals were not highlighted by SC on any of the earnings calls. Sony how much were oracle profits overinflated ?

And yes cloud margins s--- which is why oracle is playing games like this. Where is the enforcement division of the SEC when you need it?!

by Anonymous
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Post ID: @OP+MEH4hIR
Comment! It's anonymous!

7 replies (most recent on top)

Best of luck to everyone still there. Life is so much better on the outside looking in.

by Anonymous
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Post ID: @1fvc+MEH4hIR

I work here and I read the FAQ.

They are not wiping out accrued time, not even sure that would be legal. But you stop accruing June 1 just as another poster said. Slowly your balance will drop to 0 over time. Esp with the forced holiday breaks.

Right now this is only for salaried employees not hourly ones. And only in the US...where they can get away with it.

by Yes, I'm "sure about that"
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Post ID: @1zyc+MEH4hIR

And if you are actually sick more than the allowed number of sick days, what happens?

by Anonymous
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Post ID: @1voz+MEH4hIR

I don't think this applies to hourly employees, but I'm sure that it's in the works. They already started putting numbers on our "sick days" that is supposedly for reporting purposes only. Sure.

by Anonymous
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Post ID: @1atb+MEH4hIR

As of June 1 you will stop accruing. You are required to use up your balance (essentially, continue to report as before). So nothing is suddenly wiped out.

What s---ed for some of those who switched to this plan in Dec was that they had to use their accrued vac balance for the Xmas shutdown while those who had used their days earlier essentially got those days for free under the new scheme.

by Anonymous
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Post ID: @ioo+MEH4hIR

Are you sure about that? Other posts make it sound like people were zeroed out.

by Anonymous
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Post ID: @uev+MEH4hIR

They aren't taking away what you accrued. You keep submitting until your balance goes to 0 and THEN you stop accruing more.

That said, there is no doubt in my mind they are only doing this to help their bottom line.

by no...
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Post ID: @hom+MEH4hIR

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