ISP: On the list are people who received a IR, BE, or S SL4, S SL5 in this past 2016 focal unless received a EE or O in 2015 focal. Does not apply to new hires hired after Jan 1 2015. Applies to all of Intel all countries all groups, including site closures. Some countries in like in Europe don't all layoffs the ISP turns into a VSP but with the ISP benefits. The benefits are 8 weeks pay plus 6mo medical. Employee walked out after 1-1 with manager and HR any day between 25th-29th depending on schedule. Exit is immediate though last day at Intel as far as pay is May 30 then benefits kick in. Person is considered as non-rehire
VSP: On the list are people who from 2013-2016 (4 focals) received no better than a S SL3 in the past 4 focals, and have been a in there GR level 2X the median time. Managers are asked to tell employees that this a very attractive package and considering there marginal performance and the coming cuts to seriously consider taking it. The benefits are 8 weeks pay + APB x1 + from 4 to 48 weeks depending on LOS in two year increments + 1 day of QPB + 1 year of medical. For +20yr employees this amounts to nearly a year of pay and medical to leave Intel. Need to choose by Jun2 last day is Jun 24. If rehired within 12mo of last day person must pay back the prorated portion of benefit.
ERP: Anyone who is over 60, Rule of 75, or new Rule of 70 55 and at least 15 years of service. Many of the standard Intel retirement + 12-18mo of medical + 1 year of pay + APDx. Need to choose by Jun2 last day is Jun 24
Project Cut Effected: To be announced at end of June, so after dates for the above so as to take into affect the early program acceptances. Employees will be informed of redeployment or a mandatory VSP with equal benefits of the earlier VSP.