Duffield comes to aid of former PeopleSoft employees

David Duffield, founder and former CEO of PeopleSoft, is putting to good use some of the millions he made in the takeover of his firm by Oracle. He's started a fund, "The Safety Net Fund," to provide grants of up to $10,000 to employees that are facing financial hardship from the layoff associated with Oracle's takeover.

In an open letter on the fund's website, he writes,

The shock we all felt late last year has diminished somewhat, and I know some of you have found new jobs and are adjusting to new routines. Many of you have taken advantage of the available out-placement services and are relying on severance packages and unemployment benefits as you job hunt.

There will be a small number of people who will have difficulty finding jobs. It’s to you that this program, The Safety Net, is dedicated. The Safety Net will make cash gifts to people who demonstrate a serious need. The gift is intended as a “bridge” to help you through a tough time. Please be assured that all transactions with The Safety Net will be kept strictly confidential.

This fund is something that Cheryl and I — both former PeoplePeople — wanted to set up as a way to acknowledge your loyalty and dedication to PeopleSoft.

I was tempted to find something humorous in this. But if you've ever been out of work you know that unemployment is no joking matter. Duffield didn't need to set up this fund, but his actions show why so many employees were so dedicated to PeopleSoft.

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