Layoff email from Meta says:
Payment of COBRA (health insurance) premiums for you and your family (if they are dependents on your current plan) for 18 months.
From my friend I heard, Oracle is just paying 1m .
12 replies (most recent on top)
@jk not only package, other things too
Mark's package is bigger than Larry's package and Mark cares so much about his employees.
Now reach down and grab your ankles!
Larry does not care. You are dispensable low value human capital, borrowing commentary from Standard Charted CEO. Revenue per employee at Oracle is 350,000 USD last 12 months. Majority of employees worldwide get less than 15 percent of this - India, Philippines, Sri Lanka, Morocco etc. as an employee you are at the mercy of the employer. Zuck is just a little less of a je-k.
Its a no brainer that people lost career with Oracle
Meta (The Gold Standard)
Severance payment of 16 weeks base pay, plus 2 weeks for every year of service, minus your notice period. Plus 18 months of subsidized COBRA health insurance.
For a 10-year worker: You get 36 weeks of total pay (16 weeks flat + 20 weeks for tenure). Even after subtracting a standard 60-day (approx. 8-week) WARN notice period, that leaves around 7 months of actual financial runway to search for a new job. This package respects the employee's contribution to Meta, saying "thank you" and "we are sorry to let you go."
vs.
Oracle (The Bare Minimum)
Severance payment of 1 week per year of service, which includes your notice period. Plus just 1 month of COBRA.
For a 10-year worker: 10 weeks of total pay. Because a standard WARN notice period is 60 days (about 8.5 weeks), the notice period completely eats up your severance. You walk away with virtually 0 to 2 weeks of actual survival pay after your final working day to search for a job.
It feels like Oracle is punishing employees on their way out for the company's own shifting priorities, giving them the absolute bare minimum to survive. It literally tells a 10-year veteran to "go figure it out on your own."
Nobody is surprised by this. I don't remember there being an O in FAANG.
@a8 COBRA is not a subsidy, it is a federal (USA) law since 1986. Carly wouldn't have had a say about your COBRA eligibility after she let you go at HP.
FWIW, I was laid of from HP during Czarly's Reign of Te---r (2001). We did not get any COBRA subsidies. The severance was similar to what O offers now.
Simple solution. Go work for Meta.
Start a union. Your layoff experience will be different under a union.
There is no parity between Meta and ORCL for treatment of employees, it's not even close, not sure why so many expect this?
Oracle is cheap and doesn’t care about its employees- why is this so hard to understand?