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

What I find vaguely interesting is that the US hasn't managed to privatize unemployment insurance. I mean it could be made much more inefficient, line the pockets of the billionaires, and be of less use to laid off employees. Doesn't capitalism demand it be privatized?

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  • [–] 8 points 7 months ago (2 children)

    Payday loans already do this.

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  • [–] 1 point 7 months ago

    True. But in theory, those are for people who have jobs. And technically that's a loan. I am surprised that we don't have private unemployment insurance, where like health insurance you pay into it even when not collecting. I believe in most states everyone pays into unemployment insurance that is run by the state. But since it is state run, it doesn't cost much. If they privatize it, the cost will have to go up. So they are missing an opportunity. Which capitalism doesn't tend to like. Thus my suprise.

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

    That's just a savings account isn't it?

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  • [–] 1 point 7 months ago

    Well, they can make it required like they do for health insurance. Then it will be like a forced group savings account, but they get the jnterest, and they control how much you get out of it no matter what you put in it. Thats the capitalist dream.

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