Signs of the remarkable culture at PeopleSoft still shine even if the company is no longer in the hands of its employees. AMR Research reports that former employees have created a fund called The Safety Net, or TSN, to help colleagues who suffer financial problems as a result of the acquisition by Oracle in late December. Backed by Dave Duffield, PeopleSoft's founder and former CEO, the size of the fund according toa formeremployee is allegedly "several million dollars." Bruce Richardson, an AMR analyst, comments on the strong loyalty between Duffield and former employees:
One of the intangibles lost in the merger was the strong PeopleSoft culture. Should Mr. Duffield decide he has one more start-up in him, he will have no problem attracting former employees. In fact, we would wager that many are betting on it.
Update: News.com ran a story on this April 1st.