Not actually of "AI is replacing jobs", more "oh shit we are spending too much and the product isn't good enough for us to ever make a return on our absurd over-investment".
This round of layoffs was telegraphed at a month or so ago. It's all related to banks getting spooked and pulling funding for their massive data center project and the OpenAI deal being on the rocks.
So, I don't think it's really about their product being good enough, it's more that they've bet the company on data centers and it's starting to look like they just don't have the skills to execute on it.
Easier said than done. Most of us end up working for monsters if you go high enough up on the ladder.
I'm certainly not saying that you shouldn't have boundaries; there are certain companies that I will absolutely not work for no matter what they pay me (e.g. Palantir). I'm just saying that if you draw the line at "don't work for bad company", it's going to be hard to pay your bills since due to the lovely world of capitalism the people on top are usually sociopaths.
To be clear, I do agree broadly; if you can find a company that has decent people running it and doesn't appear to be evil to you, you should probably work for that company. The problem is that the job market is very competitive and you often have to take what you can get.
I'm in a privileged position to where I can be a little choosy with my work (for now!), but I can't really judge someone who has a family to take care of for doing what they need to to pay the bills.
Counterpoint, work for companies that pay a lot regardless of good/evil. I worked for an evil company and got paid an insane amount. Got laid off. Am now happily retired in my early 40s.
Am I the only one who, when they see this, feels that it's already tough for Oracle and that many companies betting on "AI" have finally understood the real risks involved, and that they risk simply failing? I mean, if Oracle is doing that, they're clearly having some problems. I don't know how to properly express that (I'm sorry, I'm not very fluent with English), but for me it seems as some kind of signal of potential start of the downfall. It's like they stepped on the path that leads them to fall, and while they still can change it, if they don't, they're doomed.
Every other company sends out cold emails to prospects outside of the company, but Oracle is the only company to send out cold emails to their own employees. Gotta give it to them...
Anytime there are mass layoffs like this, I like to look at the company career page and revel in the HR horseshit they jam down everyone’s throats: https://www.oracle.com/careers/
companies overhired when money was cheap during covid to inflate their numbers and push their marketcap. since cheap money is gone, they have no incentive to keep the workforce. this has nothing to do with AI.
We are sharing some difficult news regarding your position.
After careful consideration of Oracle’s current business needs, we have made the decision to eliminate your role as part of a broader organizational change. As a result, today is your last working day.
We are grateful for your dedication, hard work, and the impact you have made during your time with us.
After signing your termination paperwork, you will be eligible to receive a severance package subject to the terms and conditions of the severance plan. You will receive an email from DocuSign to your Oracle email address with details on your severance and termination date.
Immediate Action Required
To receive important follow-up information, including FAQs and separation documents to help you through this transition, you must provide a personal email address.
Please click here to submit a personal email address immediately. If you make a submission error, please re-submit a new form. Please Note: The personal email address will only be used for correspondence regarding separation-related information and severance agreements.
Access to your computer, email, voicemail, and files will be deactivated soon, and you will be unable to log into your computer. As a reminder, you are prohibited from downloading, copying or retaining (including emailing yourself) any Oracle confidential information.
Thank you for your contributions to our organization. If you have additional questions, please reach out to the HR team via the Ask HR page or at (888) 404-2494.
This is why I've started telling younger people in the industry (I'm 52) "Don't worry about giving two weeks notice or doing knowledge transfer, it's not your problem. If you accept an offer and a better offer comes in before you start, take it and don't think twice. If the better offer comes in after you started, quit and take it, and don't think twice. If you're in the middle of a critical project at work and they're depending on you when a better offer comes in, take it and walk away." Loyalty in employment relations has been dead for a long time, since before I started working, but now it seems that even basic decorum on the part of employers is dead as well, and there's no reason to allow it to be asymmetric.
Ouch. Imagine being let go just a few weeks from vesting. Doesn't seem fair to let someone work for months and months in anticipation of their big prize and then yank it away at the last minute.
117 comments
[ 5.7 ms ] story [ 80.3 ms ] threadNot actually of "AI is replacing jobs", more "oh shit we are spending too much and the product isn't good enough for us to ever make a return on our absurd over-investment".
This round of layoffs was telegraphed at a month or so ago. It's all related to banks getting spooked and pulling funding for their massive data center project and the OpenAI deal being on the rocks.
So, I don't think it's really about their product being good enough, it's more that they've bet the company on data centers and it's starting to look like they just don't have the skills to execute on it.
I'm certainly not saying that you shouldn't have boundaries; there are certain companies that I will absolutely not work for no matter what they pay me (e.g. Palantir). I'm just saying that if you draw the line at "don't work for bad company", it's going to be hard to pay your bills since due to the lovely world of capitalism the people on top are usually sociopaths.
To be clear, I do agree broadly; if you can find a company that has decent people running it and doesn't appear to be evil to you, you should probably work for that company. The problem is that the job market is very competitive and you often have to take what you can get.
I'm in a privileged position to where I can be a little choosy with my work (for now!), but I can't really judge someone who has a family to take care of for doing what they need to to pay the bills.
the distant engine purr comes
ouch goes the lawnmower
And full of debt from AI datacenters full of hardware with a 6 year depreciation cycle, possibly even lower depending on what NVidia releases next.
So overvalued!
The actual culprit.
We are sharing some difficult news regarding your position.
After careful consideration of Oracle’s current business needs, we have made the decision to eliminate your role as part of a broader organizational change. As a result, today is your last working day.
We are grateful for your dedication, hard work, and the impact you have made during your time with us.
After signing your termination paperwork, you will be eligible to receive a severance package subject to the terms and conditions of the severance plan. You will receive an email from DocuSign to your Oracle email address with details on your severance and termination date.
Immediate Action Required
To receive important follow-up information, including FAQs and separation documents to help you through this transition, you must provide a personal email address.
Please click here to submit a personal email address immediately. If you make a submission error, please re-submit a new form. Please Note: The personal email address will only be used for correspondence regarding separation-related information and severance agreements.
Access to your computer, email, voicemail, and files will be deactivated soon, and you will be unable to log into your computer. As a reminder, you are prohibited from downloading, copying or retaining (including emailing yourself) any Oracle confidential information.
Thank you for your contributions to our organization. If you have additional questions, please reach out to the HR team via the Ask HR page or at (888) 404-2494.
Oracle Leadership
Source: https://www.reddit.com/r/employeesOfOracle/comments/1s8jadx/...
We never have.
But we do know that someone must pay for our incompetence and lack of vision. That someone is YOU. So you are fired.
Thank you for any contributions that you made that still bring us profits.
Oracle Leadership"
The game where you, the people, will always be the loser
wow.
Anyone evaluating compensation and stock options should understand vesting periods and what they mean so they're not surprised by something like this.
(thanks for the reply correcting the company)