They will cut your benefits and/or salary to increase attrition. People will leave without giving package. Your I’ll hear tomorrow.
Some teams will have targeted layoff as well.
Cannot share more info
Good luck
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On the books CW's look more like office supplies (paperclips). BBs are huge expense.
CWs don't always go first. They're cheaper than BBs and easier to get rid of.
@uff… this time it appears to be ACT in reverse. In 2016 they did the ISP first and everyone saw 4-5k employees dismissed. This scared the workforce as everyone felt they could be next. Intel then offered VSP and retirement packages. Also management had no say over who could take the very lucrative packages. If you signed up you got it. The end result was far more experienced people took the packages than expected.
This time VSP required approval and ISP follows. A much more controllable approach. I also expect to see changes in the general work environment like RTO, mandatory work hours, and more individual accountability. Intel of the old days had some very draconian policies and PG grew up in that environment. The job market is tight so they will get away with it.
Intel offered VSP (Voluntary Separation Plan) which included severance packages. Heard 7-8% accepted the offer. No clear percentage they were looking for was announced.
Rumors are rampant, but most likely will be announced at Thursday's meeting. Typically Intel will announce ISP (Involuntary Separation Plan) with a severance package (usually smaller than the VSP). Rumor mill is they are looking for 15-20% total in numbers. Intel does not usually layoff people.
Based on the 2016 11% workforce cuts I am thinking it will be closer to 10-12% in total. Hopefully (thou I expect it) they won't make the same mistake as in 2016 in where majority of those affected were older workers, with many in their 50s and 60s. The company’s decision to focus on older employees was seen as a blow to its long-term workforce and a potential loss of institutional knowledge and expertise.
Usual stupid late night post written with poor grammar and ranting.
I'm sure the ELT will also announce they are taking a 50% paycut in solidarity with the rank and file ICs during this difficult period.
Ok, that was sarcasm.
Gotta love the blatant racism at this company. Hope they call it out tomorrow but they won't.
You forgot to say “you heard it here first…”.
They will have that too but the main course will be layoffs.
I’m new to this. Usually CWs go first right?
bogus posting
You cannot share more info ? Lol
Why do you get joy out of this ?