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

Last time I had to do this was a startup. We all worked insane hours trying to get the product off the ground but then

  • layoffs just short of a year so can save on severance
  • unemployment lower than my current mortgage
  • paid money to buy out my options in case the company made it, but a couple weeks later they reissued them to zero
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  • [–] 4 points 7 months ago (2 children)

    I assume this is what happens when you exercise stock options and so it's better to just look at them and think that they're interesting and that's about it

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

    It’s at least scammy but I don’t see how it’s aboveboard at all. It was only like $200 so not worth the cost of finding out

    I did spend like a decade trying startups in the hope of one making it, without any luck. Interestingly the only buyout that got me anything was a midsized company, not a startup, purchased by a large company. The only options that have panned out was a midsized company bought by a private equity, where they’ve paid cash

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  • [–] 2 points 7 months ago

    Well I mean a lot of that's on you. You overworked yourself for some sort of self-gratification. You then paid money to the company for worthless stock in their company because you still somehow believed in them. I mean so many things here that you did wrong when you should have just accepted that startups often fail and the majority do and never go anywhere. And so at that point you just walk away and go find to the next thing.

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