I think by now everyone should be familiar with the Spectre and Meltdown vulnerabilities and the nature of them.
Open Enterprise Server (OES) by virtue of running on a Linux platform is indirectly impacted and SUSE has been leading the response from our end, by releasing the kernel and CPU microcode patches for the impacted releases lines, which also underpin OES.
In addition you may need to apply firmware / BIOS updates from your CPU / hardware vendors too. More details on these vulnerabilities can be found in this knowledge base article.
Here's some details on the various OES versions and their patching status
As outlined in the KB article above QEMU / KVM and XEN updates are also needed and they will be released as and when available. For more information on SLES Hypervisor environments refer this article.
Hope this gives some clarity and necessary reassurance to the OES customers. If you have general SLES related questions on this topic, refer to the links above.
If you have any OES specific questions or comments, direct them to firstname.lastname@example.org