We prove that the spectrum of the linear delay differential equation x (t) = A 0 x(t) + A 1 x(t − τ 1 ) + . . . + Anx(t − τn) with multiple hierarchical large delays 1 τ 1 τ 2 . . . τn splits into two distinct parts: the strong spectrum and the pseudo-continuous spectrum. As the delays tend to infinity, the strong spectrum converges to specific eigenvalues of A 0 , the so-called asymptotic strong spectrum. Eigenvalues in the pseudo-continuous spectrum however, converge to the imaginary axis. We show that after rescaling, the pseudo-continuous spectrum exhibits a hierarchical structure corresponding to the time-scales τ 1 , τ 2 , . . . , τn. Each level of this hierarchy is approximated by spectral manifolds that can be easily computed. The set of spectral manifolds comprises the so-called asymptotic continuous spectrum. It is shown that the position of the asymptotic strong spectrum and asymptotic continuous spectrum with respect to the imaginary axis completely determines stability. In particular, a generic destabilization is mediated by the crossing of an n-dimensional spectral manifold corresponding to the timescale τn.