The end of May will come and go and NONE of the doom and gloom predicted by the malcontents on this board will come to pass. They will post some silly excuse as to why there was no massive layoff, and will immediately predict that the new date for the layoff will be the end of the summer.
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You missed one. No more "accrued" vacation but you get "unlimited" vacation. So they don't have to pay out if you get knackered.
Do you have any numbers or specifics as to what groups or locations have lost people?
Java got hit BAD. Entire Mission Control team sent packing. Maybe 20% at the old Sun campus in Santa Clara. Lots of behind the scenes people who keep everything running are gone.
Even very "safe" teams have lost a bunch of really important people.
I'd bet none of the laid off are management.
The management is incompetent and the management knows it. The engineering management is running a scam that will take a few years to work it's way through.
Lay off the best developers, make up whatever you can to get rid of them. They know where the problems are and the management doesn't want their input. So, lay them off. What's the problem with that... they can hire 5 clueless and inexperienced people in India. It will take a few years for the results of that stupidity to show itself.
Then the management can get a couple more years by claiming that they just didn't hire the right cheap India developers with no experience, so they can shuffle them around for a couple of more years. If layoffs happen, it will still be the developers getting laid off, not them.
But sometime, maybe 5 years from now, Oracle will no longer be able to cost cut, because there will be no customers. The management is OK with that, because they are incompetent and they know they are incompetent, so as long as they can stretch their jobs out at Oracle, the better for them.
Cause they can't get a job anywhere else, and they know that. They will BS as long as they possibly can. They will get rid of anyone who knows anything, to make sure they can't get rid of the management instead. They don't want anyone pointing anything out.
If you are a competent developer, get out of Oracle. Oracle is going nowhere. There is no future here, your skills are getting old and there is no hope for this corrupt management. Don't wait for it to get worse, that will just look worse on you resume.
Even very "safe" teams have lost a bunch of really important people.
If this is true then things are imploding. Desperation in the extreme. If this is the case, I suspect bad numbers in the earnings call in June.
The RIFs the past two weeks in TK's org have been pretty harsh for many groups. Even very "safe" teams have lost a bunch of really important people. For many teams, the worst predictions for May have already happened.
Do you have any numbers or specifics as to what groups or locations have lost people?
"Figure 380M / $20k severance = 15200 heads."
I'm thinking that since most will be long timers, that the actual severance per person could be much more, like $40K or more. Now if they were mostly to lay off newbies, then they would less.
The RIFs the past two weeks in TK's org have been pretty harsh for many groups. Even very "safe" teams have lost a bunch of really important people. For many teams, the worst predictions for May have already happened.
15000 employees is 11% of the total workforce which would be considered as a massive layoff.
Only a week to wait to know if it was true or fake news. I would rather think it is true from the rumors I hear.
Figure 380M / $20k severance = 15200 heads. Certainly doable. Maybe they don't do all those people since many left to attrition but it does tell you another layoff is likely coming.
"That money in the 10Q report has been provisionned for layoffs and restructuration but only half has been spent."
The last time I looked, there is still about 380 million to pay out.
I wanted to point out that rumors of big layoffs at a precise date can be spread by HR and managment to encourage employees to find their next gig. Then they leave before the real layoff (mysteriously months later) happens and saves the compagny a lot of cash. I am not saying that I have seen this happening but that it is a plausible scenario.
That being said, finding another gig at a time of uncertainty is generally a better option.
that ain't any solid evidence
That money in the 10Q report has been provisionned for layoffs and restructuration but only half has been spent.
"The stooge brigade will do the same this time around no matter what solid evidence to the contrary is put before them"
What "solid evidence"?
Why do these idiots keep screaming fake news? Wall Street loves it when we RIF folks. They should be cheering.
Remember how the Fake News stooges were on here back in the fall of 2017 with their familiar refrain, even in light of a posted recording of ES reading his mass layoff script AND several reputable news articles confirming layoffs on the order of 1,000+ on 9/1/17? The stooge brigade will do the same this time around no matter what solid evidence to the contrary is put before them, and they’ll also throw in liberal doses of their Dead Wood claim.
@Thv0U1h-1sut, why presales May 31st and sales June 30th?.
"May 2017 -- layoffs of 5-15% depending on the department
June 2017 - today -- layoffs that have been kept below the mandated reporting threshold
May 2018 -- the layoff costs are already factored in to Oracle's accounting, but only time will tell"
yup, correct. Oracle is a 130k employees company, with dozens of different LOBs, it is very easy to reach 13k layoffs with just few layoffs in each LOB so that to keep it under any radar, WARN or others. and if you hire some college graduates in the meantime, noone will never realize what's happening.
but if you drilldown in the data, you will see a much worse scenario.
layoffs in the past year or so have been basically concentrated on a single LOB, i.e. HW systems. engineering SPARC and Solaris engineering are no more existing, with more than 80% reduction. networking engineering have been cut 100%. storage engineering around 60%. x86 also drastically reduced, even if the cuts have been less extended.
starting from may 1st, also HW system sales and presales are affected, again in a very "silent" way. depending on country rules, most of the presales will be gone may 31st, most of the sales june 30th.
next in turn will be ACS, most of them will be gone by end of CY18, replaced by the rumenian hub.
and market is liking it. from the starting of the new layoffs round in may, the stock is going up substantially and consistently. of course, market operators know what's happening, much better than you may think, and they lke cost cutting and dividend.
Got a 2nd screening interview with a competitor tomorrow! Always have plan B!
@yep start a new thread with your question - otherwise it'll stay buried in replies and many people just skim those
Regulators coming in Hot and it will be glorious to watch.
Been on layoffs.com since 2015 - it's pretty darn accurate - there trolls, there are fake stories, but if you read this site correctly, you'll know whats going on.
your best friend are counters on threads, when they heat up you can rest assured a big hit is coming.
Cost cutting - Austin has a "take out your own trash" program (cleverly marketed as "Green")
LOL, don't even have the money for janitorial services.... LOL
Yeah, going down the drain.
"NONE of the doom and gloom predicted by the malcontents on this board will come to pass"
Let's look at the past several years...
Raises -- nearly non-existent
Car allowance - gone
Home office reimbursement - gone
Incentive trips - severely curtailed
Earned commissions - Oracle is being sued by several who weren't paid on the deals they closed
Commissions - shrinking
Turnover - rising as individuals are leaving for competitors
Cost cutting - Austin has a "take out your own trash" program (cleverly marketed as "Green")
Oracle is clearly headed in the wrong direction
Now let's look at what to expect...
May 2017 -- layoffs of 5-15% depending on the department
June 2017 - today -- layoffs that have been kept below the mandated reporting threshold
May 2018 -- the layoff costs are already factored in to Oracle's accounting, but only time will tell
Good luck everyone (except the person who keeps shouting "Fake news!")
They already paid out 463 in 2017 to their 2017 Restructuring Plan. You can just loop at their 2017
10-K
http://d18rn0p25nwr6d.cloudfront.net/CIK-0001341439/05215062-8f4e-4311-8d1f-5cfc40237a9b.pdf
Granted we all know even if they complete the 2017 Restructuring Plan, they'll just announce a 2019 Restructuring Plan. So if it's meant to be.. it'll be!
I quit Oracle a year ago from an IC6 (architect) position and now make more every year in cash than I did in my best year exercising stock built over many years at Oracle. I get stock in addition to this in my new employer. When I left, the response from a friend/colleague who is always very professional was to congratulate me and to expand on his/her views on Oracle execs that he/she has met in a previous role as a founder and officer at different fortune 500 companies. ORCL's reputation precedes them. Keep your skills current; network; plan where to jump; help colleagues you admire. I have never met a hiring manager who sees being laid off from ORCL, IBM, or others as a negative in itself.
I hope the news is not fake. Lots of us want packages. We want out, but we want Oracle to pay for it.
You may be a package but remember you will still need to pay the mortgage, pay for your own health insurance, and stress about finding a new gig. Plus you have LAYOFF on your resume that you’ll need to explain. Better to leave on your own terrms. But to each his own.
I have been following this board for a year or more. Lots of predictions have come true. I think large layoffs are coming in the sales area, but may be delayed because of the problems with sales in hubs not being what was expected. You just can't tell what is going to happen. The management is clueless, so you never know if they will stick to a plan or not. That goes for layoffs, too.
I am waiting to see what this quarter's results will be. Any hints on what you think will happen there?
I hope the news is not fake. Lots of us want packages. We want out, but we want Oracle to pay for it.
The fact that oracle HR is ramping up activity tells me that sh-- is on the way, otherwise why bother?
What do you expect? The comments on this board are 90% pump and dump stock scammers and 10% employees. It is pretty easy to tell which is which, because the pumpers are not particularly bright.
There is of course another possibility: that the entirety of 1 billion set aside won't actually be spent.
A little less than half was paid out this year. If you pay it out all at once it is noticable. If you spread it out over a year it's less noticeable. But, it's still massive. It just deceives the little guys who work for Oracle and don't read the 10Q of their own company.
Ignorance might be bliss, but it's still ignorant.
See page 16.
http://d18rn0p25nwr6d.cloudfront.net/CIK-0001341439/d68e7357-e1ab-40fe-88ba-56d6b1f79f76.pdf
"1.14 Billion in layoff money set aside and reported in the 10Q, plus hundreds of millions accrued in severance packages"
If this comes to pass as some are predicting, there is no way they can skirt WARN or the press.
There is of course another possibility: that the entirety of 1 billion set aside won't actually be spent.
1.14 Billion in layoff money set aside and reported in the 10Q, plus hundreds of millions accrued in severance packages... must be fake news reported by Oracle to the SEC.
Nothing to see here... move along.
99% crap from HR, when tell us that there are no layoffs, and that those who complain have been laid off.
Are you trying to say that all previous massive layoffs were just fake??
It's not necessarily should be May 31 of cause.
However, last August we lost half of our department.
The board is 99% crap and 1% wishful thinking