Thread regarding Oracle Corp. layoffs

Merry Christmas! No layoffs this year for the holidays. 0.006% chance you will be let go

Yep rumor has it that no layoffs are scheduled this quarter. You are free to go buy large expensive gifts on credit for your family. Rest easy.

The fedex notice is probably a Christmas bonus from MH himself. Ho ho ho! Yes there will be no bonus or raise. There hasn't been a raise at Oracle in over a decade, even though the tech market is heating up. Think of your meager salary as job security.

But seriously I have heard no layoffs are coming. Don't believe me? Check out this sweet copy of Oracle's 10q, be sure to read page 19

http://d18rn0p25nwr6d.cloudfront.net/CIK-0001341439/047d6f9f-8780-4f6f-a7b7-8f62bac86432.pdf

The total estimated restructuring costs associated with the 2019 restructuring Plan are up to $432 million and will be recorded to the restructuring expense line item within our condensed consolidated statements of operations as they are incurred. We recorded $107 million of restructuring expenses in connection with the 2019 restructuring Plan in the first three months of fiscal 2019 and we expect to incur the majority of the estimated remaining $325 million through the end of fiscal 2020.

Restructuring expenses are code for "Severance Packages"

(1) restructuring costs recorded for individual line items primarily related to employee severance costs.

Thats right. Only 325 million has been allocated, and that is way out for the end of fiscal 2020. End of Fiscal 2020 is June 2020. Woot! That means that we have 7 quarters to pay out 325 million. Its like winning the lotto. Assuming we have equal layoffs each quarter that means we will have about 47 million paid out in severance packages each quarter.

Oracle allocated about 1.1 billion to layoff people starting in 2016 and best guesses are about 20k people were let go. So that's an average package of 55k. If we had layoffs at the end of this quarter the estimate would be 47M / 55k = 854.54 people.

Sorry for the short dude in HR, your number is probably up, as that .54 is probably you. The other 854 out of 137,000 won't really be noticed. That is a 0.006% chance you will be let go this Christmas. Those are odds you can take to vegas!

Have fun and Meeeerrrrry Christmas! Ho ho Ho! Your job and pay s---s, but you get to keep it. Don't worry about sales numbers. Or the fact that Oracle technology was cutting edge decades ago. Just enjoy the moment of safety. Take your nickles and buy an apple or candy cane or two for the kids.

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Post ID: @OP+WvfNGDX

23 replies (most recent on top)

There is another good in the Thomas Jose and Madhavi Jain. Both of them are useless especially the lady who has no credibility to be a senior manager. Technically a big Zero. She survived just cos of TJ. The VP of that group needs to know this. If you are incompetent , Oracle will support you and make your director :-)

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Post ID: @29nyq+WvfNGDX

NK layoff is absolute necessity and good for company. NK Org is full of relatives and its family business where 100s of Senior Managers and Directors who got promoted from PMTS to Senior Directors under blessings of TK. Even NK got promoted every year , Huge clean up has to be done in this Organization NK has intoxicated the Org at core

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Post ID: @hljr+WvfNGDX

Math isn't correct when you 'forget' to multiply by 100 - oh dear oh dear.

This is why nothing works at Oracle. It's OK not to multiply by 100 and then declare that it wasn't a problem. Dev s---s.

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Post ID: @2cms+WvfNGDX

The layoff situation can only get worse long term. Right now, TK just left, they don't know what they are planning on, so don't count on the lack of a plan as a sign of anything. Once they figure out the re-org, then the plan for layoffs would count. But, right now, it means nothing.

They will have to layoff more people, or get rid of severance packages altogether. In that case, they won't need to declare any money for severance. Everything can change. The only sure thing is that Oracle is on the way down. Exactly what will happen when, is not clear.

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Post ID: @2tnk+WvfNGDX

It might be true the layoffs are slowing down for now. But, it's also possible that the ongoing results will be so bad, that that will change entirely. If nothing sells, then everything is up in the air, although, maybe no layoffs this quarter.

Another thought is that when people have posted information about money allocated for layoffs, it was not entirely certain when the layoffs actually happen. Money for severance packages doesn't seem to be fully spent by the end of the fiscal year, necessarily.

So, I don't think anything is really for certain.... unless you are a useless middle manager with one report. You are probably completely safe. I have never seen a manager get the ax in my area.

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Post ID: @2nbd+WvfNGDX

Look like there is no rules to became a manager, sr.manager, director and vp.

The only rule for promotion is to be an incompetent yes-man for the id--t you want to promote you.

Unbelievable company.

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Post ID: @2jyf+WvfNGDX

There are so may director without any reporteis. Director reporting to Director, can't one director take care. Senior Manager with only one person reporting to him. These are very common at management level. This will show that the promotions are given without even knowing the capabilities of the person. Look like there is no rules to became a manager, sr.manager, director and vp. When we see end to all these.

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Post ID: @2kkp+WvfNGDX

Does LE know cloud offerings not good or do the VPs social engineer what he is told to keep their jobs? Must be surprise coming.

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Post ID: @2urz+WvfNGDX

So 1 VP of many in Cloud Dev is gone, there's far too many inept, arrogant and clueless ones still there. and still no cloud offerings (that are functional). Go to Aria and count them - it's unbelievable how many VP's and Director's are in that org - many with only a handful of direct reports. What exactly are they the VP of?

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Post ID: @2qwm+WvfNGDX

Is VP severed because no more cloud services or because LE swing big parts into action to save Oracle by makingvreal cloud?

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Post ID: @1cka+WvfNGDX

Vice President of Software Development,Cloud Services at Oracle was let go... fired, severed. Severance packages to be delivered to those who work for him.

Lets see if we can use the ops math. 0.006% is really 0.6% chance you will be laid off unless you work under Cloud Services at Oracle in the org that directly reports to the guy let go then we may need to multiply by another 10... why not? Just move that decimal point to the left if your VP gets terminated.

I'd say that if your VP gets the axe your org s 10 times more likely to be um... "reorganized" like someones face gets "reorganized" in a brutal bar fight. I'd say 60% chance of a not Merry Christmas for people in Cloud Services reporting to this guy. Two VPs... so say 50% come from this guys org 852/2 = 426 people get severance packages in cloud services.

Any takers? Check my math, cause I may be running out of disk space. Betting odds?

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Post ID: @1kof+WvfNGDX

Shame on whoever wrote that. No name calling pl.

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Post ID: @1fjr+WvfNGDX

@WvfNGDX-mli

Thanks for the laugh. Sad but true though.

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Post ID: @1gfr+WvfNGDX

One VP is part of the TK org his name is Nirguna Kota.

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Post ID: @fzg+WvfNGDX

So in other words, they decided to save money by no longer paying severance to the people they lay off. Hohoho! Marry Christmas!

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Post ID: @tnn+WvfNGDX

Yay ! - It looks like we found the guy who writes the filesystem alerts that tell me I have 0.9% free space when it's actually 90% free space. What a relief - maybe I can get that fixed now !

Math isn't correct when you 'forget' to multiply by 100 - oh dear oh dear.

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Post ID: @mli+WvfNGDX

So we have the short HR guy at .54 and two VPs... I would assume if all the rest of the math is correct, 852 more to go.

I bet the majority of the 852 will be in the orgs those VPs worked for. Just sayin... Pretty important to know what orgs they were in.

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Post ID: @vdb+WvfNGDX

I think the OPs math was right... he just forgot that the number needs to be multiplied by 100 when converting to a percentage.

So for example 0.33 is actually 33%.

0.006 x 100 = 0.6%

Two VP's are layoff this week.

So we have the short HR guy at .54 and two VPs... I would assume if all the rest of the math is correct, 852 more to go.

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Post ID: @ibs+WvfNGDX

854 out of 137,000 is actually 0.6%

You're two orders of magnitude out. Just saying.

You still want to go to Vegas ?

If you're advising people that they are "...free to go buy large expensive gifts on credit...", then you should really get your math right.

yes - I know your post was supposed to be satire, but if you work in dev, then your grasp of numbers might explain a thing or two about the quality of product coming out of that org.

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Post ID: @cht+WvfNGDX

Who needs layoffs and to pay severance when you can get people to quit for free?

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Post ID: @qwg+WvfNGDX

Which Geo VP? What roles were they playing?

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Post ID: @jlh+WvfNGDX

Two VP's are layoff this week.

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Post ID: @ejv+WvfNGDX

Place is an absolute joke in the tech industry now.

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Post ID: @mlr+WvfNGDX

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