The 10Q tesll the real story, the biggest layoff in a decade at Oracle is coming this summer May 31 2018. @SjU3ajk nailed it.
The 10Q paints a true an accurate picture of the layoffs at Oracle reported to the federal government, specifically to the UNITED STATES SECURITIES AND EXCHANGE COMMISSION.
http://d18rn0p25nwr6d.cloudfront.net/CIK-0001341439/d68e7357-e1ab-40fe-88ba-56d6b1f79f76.pdf
On Page 16 in plain "English"... The "Cash Payments" column has to match the "Total Expected Program Costs" column. Accounting is pretty simple, in the end the debits and credits have to equal.
Look at the cash totals on Total restructuring plans (in millions) its $(22) adjustments plus $(452) or $(474) total cash pay out. Total Plan is 1114 Million. The total remaining is 1,114 - 474 = 640.
We have 640M in severance packages to be delivered by end of Q4 FY18. That date is May 31 2018. In simple terms 640M / 1114M = 57%. More than half the layoffs for the FY17 restructuring plan have yet to come. Everything combined that happened this fiscal year since May 31 2017 is less than half of what we will see in the next two months.
Combine this with the inevitable stock market correction. Tech stocks have tanked this quarter with Oracle leading the pack as far as s--- wind tech stocks (because its cloud is fake)
Ironically the bone heads running Oracle with their cloud washing strategies have tipped the iceberg of over prices stocks...
https://www.advisorperspectives.com/dshort/updates/2017/09/06/market-cap-to-gdp-an-updated-look-at-the-buffett-valuation-indicator
Warren Buffet created a fantastic over view of the entire stock market with a macro-economic indicator for the price to earnings ratio for an entire nation. He looks at the market cap for the entire stock market in a nation compared to the gross domestic product. Its called the "Warren Buffet Ratio."
If you look at the Wilshire 5000 Full Cap Price Index divided by GDP we are at a higher level than we were in the tech stock bubble of the year 2000. The ratio is at 136.5% in 2000 and 137% in 2018. Basically the entire stock market was over valued by 36.5% in 2000 and its over valued by 37% today. The market will correct.
Basically this indicator (look at the link above) tells us to expect a recession worse than we saw in 2001. The market over corrected by 24% dow to 76% of the true value of stocks around 2003. Warren buffet sold high and bought low while the rest of us went with the pack and bought high and sold low losing our shirts,
I personally held on like grim death to my WorldCom stock and rode that baby all the way to zero. It was a pack of lies.
https://www.marketwatch.com/story/worldcom-future-in-doubt-amid-38-billion-scandal
So what I am trying to say is we are seeing a repeat of the year 2000 nonsense. Oracle is leading the pack like a modern day Enron or WorldCom inflating cloud numbers to make a quick buck. Everyone at Oracle know the cloud is all hype. You work there. Who do you know that closed a real cloud deal worth millions? Who do you know that is not using "cloud at customer" that is a multi-million dollar enterprise deal?
Be honest with yourself because its your butt on the line. Oracle is about to drop the biggest layoff axe in its history May 31 2018. Thats you are f---ed number 1, the double f---ed comes when the market corrects in the next few months.
Here is the deal if you are over 40 or worse over 50, and you are making good money at Oracle you are about to be laid off in the worst recession since 2001. You better find a new job and fast. Waiting for the severance package is great, but get something lined up soon. At this age with crappy legacy and fake cloud skills your last pay check in your life (aside from being a greeter at Walmart) may be coming up in a couple of months.
Honestly this is probably the first time in history you can actually see it coming. I'd say you could take a vacation from Oracle and find a new job. Double dipping is totally excusable in this sorry situation.
Good luck to everyone at Oracle! You are about to be double f---ed!