Base pay rise from FEB 1 as per Ann & Naga email.
Check your workday pay revision letter, mine was already there.
Email states : Sent to all eligible Foundry Incentive Bonus program recipients.
I worked out base pay increased by 4.45 % which has knock on for shift , overtime etc.
@2esu+1w1eDkYx then have US government pay for it, current subsidies are clearly not enough, and national security shouldn't be a concern of a for-profit corporation. Management's job is to maximize profits for shareholders, not to worry about geopolitics.
@1urk Foundry is obviously a national asset. Prod Co has now done all they could and is passing the life support IV drip to the government to really get the printing presses going. Go foundry! You can make it thru this - and walk again on your own 2 feet!
What? Intel Foudry is already basically setting money earned by Products on fire, and now getting raises for it?
What was the Intel Foundry incentive bonus program payout for 2022/3/4 ? It states that it averaged 50% payout over past three years. That is what the new base pay increase is pegged at , so we are loosing the opportunity for any upside, but also protected from any downside payout. I prefer base pay increase as it increases shift premium value, overtime amount & pension contribution from the company. It will be interesting to see if they try sell this as your review pay rise also. We should find out end of January but not holding any hope for much of a pay rise which is supposed to come into effect on 1st July. We have lost so many good workers in the last 3 months aside from the early retirement and VSP . Employees are exhausted with the constant rudderless drama !
Intel should have done this long time ago - before giving generous package to those who are LEAVING the company. ERP/VSP made no sense.
Anyone who doesn't think this is in foundry's best interest needs to rethink things.
Even if it was even dollar for dollar swap (hint - it isn't) the savings in payroll to process would be significant.
They are getting ready to squeeze foundry folks. Once they can get an even comparison to other mfg companies, I would expect a 3-5 year pay freeze to bring wages down in line with industry standards - mfg industry standards. Or, in other words, sweat-shop wages.
Or actually looks like base raise is lower than what the bonus was
The raise in in place of the bonus. Overall yoy compensation doesn't change
The govt. prints dollars and funds endless wars which devalues your dollars. Meanwhile Intel gives you a 4.45% raise? LOL, pathetic! That's like a bully hitting your kid on the head with a brick so the principal gives him a Hershey's kiss.
WTF! So ProdCo folks dont get base pay raise?? Bulls£ttt
It's almost line handing out free sunglasses to passengers as the titanic sinks.
Nothing wrong with a little bump and grind
Not in my CCG team.