After layoffs at Oracle, Business Insider spoke to current and former employees, learning that some marketing teams have reportedly seen their numbers “decline by 30% to 50%.”
One former marketing employee complained that “it’s just a terrible environment. It’s total chaos . . .”
“The general verb to describe Oracle’s advertising and customer experience team is that they were destroyed,” said the person who works at Oracle. Insider could not say exactly how many ACX employees were cut, but one person familiar said it may have been as high as 80% of the division… “There is no marketing anymore,” said a senior marketing leader who was fired on Monday Insider. “We don’t even have to say we’re in marketing because there’s no marketing department…” One recently fired marketing executive said Insider that their team had been cut in half and no successor had been appointed to replace them. “My team texts me; they still don’t know who they work for,” the man said. “Nobody told them I’m gone, so they’re just floating in the wind…”
Although the company is known for making layoffs every year, some employees said they were shocked by how many senior, experienced and high-performing employees were let go on Monday. Oracle’s code base, for example, is so complex that it can take years for engineers to fully understand how things work, and employees with more than a decade of experience have been cut, some employees say.
Other employees who have been laid off in recent months said they were furious that they were cut before their restricted stock was scheduled to vest, costing them tens of thousands of dollars in compensation. “It’s just unfortunate,” said the recently fired marketing leader, whose primary compensation package included stock. “I know that people who were on medical leave were fired. I know people who have been fired on parental leave.’
In June, Oracle also reported $191 million in restructuring costs for the previous fiscal year — and another $431 million a year earlier, the article noted. (“Oracle did not respond to requests for comment from Insider at the time of publication”).
A recently fired marketing employee told the site that “we’ve been running like zombies for the last couple of weeks because it’s just like, ‘What am I doing here?’
Thanks to longtime Slashdot reader SpzToid for sharing the article.
