Oracle caps layoff severance at 26 weeks, ends future bonuses for affected staff: Report

Oracle has capped severance for employees affected by its latest layoffs at 26 weeks of base salary, and canceling unvested stock awards and ending eligibility for future corporate bonuses, according to an internal FAQ document seen by Business Insider.

The severance details come as Oracle has begun another round of job cuts globally, including a fresh round of layoffs in India. The latest cuts in India, the company’s largest workforce base outside the US, are estimated to have affected around 3,000 employees, people familiar with the matter said. Oracle has not disclosed the number of employees affected in India and did not respond to queries on the matter.