Will they be as good as the last time?
26 replies (most recent on top)
Those who spend all day obsessing with this website, or otherwise not working, won't need to worry about severance packages, or unemployment either, because HR is ready to start terminating them for cause.
They were warned and Intel loves handing out the rope needed to hang oneself.
@j7+1 OP does not work at Intel.
This site is infested with NVDA and TSMC fanboys, who are just here for the troll.
The other 5% of the posts are from Fab monkeys, who troll by default.
Why are you people still at intel?
Quit worrying about getting some worthless package and go get a job somewhere you can build something meaningful.
Being fired is a great reward for those who stayed behind to rebuild.
📦 should be funded like soc security
Is it true no packages?
I have heard definitely that we are announcing a RTO. I heard that a tiger team has been formed and they are ready to announce. lBT starts on Monday, expect it to roll out soon after. It will be strongly enforced so you will see many people quit…..which is what they want. Then the severance packages will return to what they were previously. In the U.S. it will be one week per year up to a max of 30 weeks. Six months of cobra. Still not bad, just not as rich as before. Check back to this post in a month and see how accurate I am.
i suspect the next rd of packages will be the legal minimum in most places. why pay more? and it won't be vsp. thanks for your service. here's your legal severance. don't come back. will be a welcome change to the vsp approach which encourages the wrong people to stay (people with no hope of getting jobs elsewhere and not a bit of risk taking in their body). the people that were eligible last fall and didn't take it are going to greatly regret that decision, i suspect.
Most of middle management is useless, as are a majority of the 1st line managers. Please start with them!
The package will be as big as Tans package
@b3 You mean broke after paying Pat 10mil severance?
We are broke. Cant afford any packages
No impact to Chinese people. American whites will be most impacted
60 days. Only enough to comply with WARN Act.
@a1... the man is Malaysian
First pass will be performance based with little or no severance. Nothing above the legal requirements. Look and see what other tech companies have done recently. You may see some interim performance reviews to setup a second round of low performer/ no cash releases. The days of huge payouts ended last November. Don't count of severance for any previous years of work. Those years got the company to this point of near failure why would you be rewarded.
One week for every two days spent 8+ hours in office in 2024
Rumor is that they are going to be doing significant performance based culls of all the useless middle managers.
It will definitely not be 2 weeks per year of service... that would be more than the "generous" packages already given. Expect 0 - 0.5 weeks per year of service and a reduced COBRA duration (3 months)
No packages…. There’s no money
Can assume 1 week or max 2 week of pay per year of service. If any sabbatical accrued , you will be paid off as well. Any unvested RSUs are gone. Hope this helps you to plan better.
The estimate layoffs are 58K. IFS will be sold off completely. The cash will go towards paying down the debt and innovations i.e. MJs group.
Ideally, this will include therapy, which is kind of what this question was actually about
800k
uh, no....why didn't you take the VSP/ER...?
Nowhere near the last round. Chinese are cheapskates.