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Here's the severance package Oracle offered laid-off US employees (www.businessinsider.com)
submitted 7 months ago by to c/technology@lemmy.world
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Oracle offered laid-off US employees four weeks' base salary plus one week per additional year of employment up to 26 weeks as severance, according to an excerpt of internal severance terms viewed by Business Insider.

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[–] 4 points 7 months ago (4 children)

You can take both. And for most tech sector workers, the unemployment payments are tiny compared thier salary. Also the unemployment payments don't last forever. For anyone with say 10 years at the company, the ttotal unemployment payout would be less than the severance.

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  • [–] 1 point 7 months ago (3 children)

    Yup, I went from making $8k a month to $2.4k on unemployment.

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  • [–] 1 point 7 months ago (2 children)

    And I bet that 8k was after tax. The unemployment is taxed later. Which is always fun come tax time. Cause if you didn't make quarterly payments, you might owe a tax penalty. I know it's a 1%er type problem, but still annoying.

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  • [–] 2 points 7 months ago (1 child)

    Yup, it was a rough time.

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  • [–] 1 point 7 months ago

    Lol. Been there. And it actually can be rough. The company I stupidly spent 15+ years working for refused to use new tech. So while I got a large severance, I didn't have experience with the tech people hired for. I had to learn new stuff on my own, then structure my resume so that it didn't make it clear that I had not used that tech in a professional setting. That at least got me interviews here and there. But in the end, it was basically just luck I was able to get a new job.
    I often wonder what my life would be like if I had listened to the people who advised me to work a few years at my fist company and then change companies a few times early in my career.

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