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.
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.
The severance is usually packaged with a waiver that says you’re not going to sue them for unlawful termination. they don’t give you much time to think about it, so if you want to run it by a lawyer then you have to do it fast
Years ago, I took a nearly identical package to a lawyer, who asked if they had been a bad employer, anything actionable, but they’d been great, I was going to miss it badly.
He said it was a pretty standard agreement, better than most get, so if there wasn’t a chance that I would want to sue in the future, it was best to just accept it, and move on.
I suppose it depends on your State, but most I have worked in have “Employment at Will” which they make you sign on the way in - basically means: you can be “let go at any time, for no reason whatsoever.”
The really crappy thing about Oracle doing this like this is that these people are hitting the market with 30,000 other freshly fired Oracle workers all looking for the same kinds of jobs at the same time - in a market where lots of other companies are doing the same.