The Oracle India severance package has reportedly been leaked online by several users. While Oracle has not confirmed these claims, the posts continue to be circulated online. Reports suggest that nearly 30,000 Oracle employees were fired across the world, which amounts to almost 18 percent of the company’s global workforce. “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,” said the mail sent to them.
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“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,” added the email.
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What the Oracle India Severance Package Leaked Online States?
According to the posts being circulated online, here’s what the employees who were laid off will be entitled to:
- 15 days’ base salary for each completed year of service.
- Encashment of unused leave balances.
- One month’s salary in lieu of notice period.
- Gratuity (where applicable).
- Payment of pending or unpaid wages up to termination date.
- A two-month ex-gratia top-up, subject to signing separation agreements.
- Insurance support of around Rs 20,000.
- One month of ‘gardening leave’ pay or equivalent compensation.
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The package could be termed as generous if true as it combines statutory benefits with extras. However, employees are advised to wait for official communication from the company as the authenticity of these posts remain unverified.
