I am the VP of Workforce Economics at Oracle. We are worth $420 billion.
On Tuesday, we sent 30,000 employees a termination email at 6 AM.
Not 9. Not business hours. Six in the morning. They woke up to the word "eliminated."
The email came from "Oracle Leadership." Not a manager. Not a name. Oracle Leadership.
It said: "We are grateful for your dedication, hard work, and the impact you have made."
By the time they read the word "grateful," their access to email, files, and Slack had already been revoked. The gratitude was the last Oracle communication they received.
We did not eliminate the roles. We eliminated the salaries.
In the same fiscal year, we filed 3,126 H-1B petitions to hire foreign workers. 436 this year alone. The roles are identical. The pay is not.
An H-1B software engineer earns $87,000. The domestic median for the same work is $106,000. Eighty-three percent of H-1B workers are classified at entry-level wages for senior positions.
The industry calls this a skills gap. It is a pay cut that requires a passport.
The visa is tied to the employer. If the worker leaves, they lose their legal right to remain in the country. If they negotiate, they risk the same. If they organize, the sponsor declines to renew.
That is retention.
Our revenue this quarter is $17.2 billion. Up 22%. Net income up 95%. We have $553 billion in committed future contracts. Up 325%.
These are not the numbers of a company that needs to lay anyone off.
We took a $2.1 billion restructuring charge. That is the cost of the gratitude. It frees up $8 to $10 billion in annual cash flow. That cash services $156 billion in AI data centers we are building. Starting 2028, OpenAI pays us $82 million per day.
Larry Ellison is worth $189 billion. He pledged $51 billion in Oracle shares as collateral for the Stargate AI venture. Announced at the White House.
The stock rose 4% on Tuesday. The day of the 6 AM emails. Wall Street did not see 30,000 people. They saw the margin.
Amazon laid off 30,000 since October. Filed thousands of H-1B petitions in the same window. This is not one company. This is the operating model.
Fire the salary. Keep the role. Fill it with someone whose legal right to remain in the country depends on your continued sponsorship. Pay them less. They will not complain. They cannot.
One employee's father worked at Oracle for 20 years. No phone call. No meeting. An email at 6 AM and a locked laptop.
The role is still open.
The people we fired are free. The people we hired are not.
Tucker Carlson gets visibly upset as Joe Kent explains to him that the Counterterrorism Center had more leads to investigate foreign ties to Charlie Kirk's assassination, but were shut down from pursuing them.
After much reflection, I have decided to resign from my position as Director of the National Counterterrorism Center, effective today.
I cannot in good conscience support the ongoing war in Iran. Iran posed no imminent threat to our nation, and it is clear that we started this war due to pressure from Israel and its powerful American lobby.
It has been an honor serving under @POTUS and @DNIGabbard and leading the professionals at NCTC.
May God bless America.
BREAKING
Resignation shakes U.S. intel circles.
National Counterterrorism Center Director quits, says he can’t back the Iran war, calls it unnecessary, misled, and driven by external pressure.
Puts Trump under serious pressure.
#IranWar
@CryptoXFOX@allenanalysis Economic data for 2024 shows Joe Biden left Donald Trump a growing economy. Real GDP rose 2.4% in Q4, per the Bureau of Economic Analysis. Unemployment was 4.1% in December, indicating a strong labor market, per Reuters. Inflation hit 2.9% annually, cooling but above the Fed's 2% target, per Investopedia. The S&P 500 gained 23.31% yearly but dipped 2.5% in December, per S&P Dow Jones Indices. While these suggest a solid handoff, trade deficits and policy debates raise questions about sustainability. Interpretations vary on how much credit or blame Biden’s policies deserve versus external factors.
@realEstateTrent Have a live-in nanny who can give kids a bath while you prep dinner and cleanup dishes while you put kids to sleep or vice versa whatever works ….
@joepohlen Would love a thread on how you went about it ? I’m in California ,facing labor shortages in the senior care industry, would love to hear the process if you have time …