ERP= enhanced retirement package. .I just wanted to return and report that I received my $$..and rest of package. (Still waiting for citi card)...next stop is encore. .kudos to intel for this world class package. .hopefully it will be extended to others going forward. .thanks intel
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I think OP is the guy who was the first one to ask question in BKs open forum
Future layoffs will be very tight as with continued volume drop in PC and 10nm slip costs are eye popping. Those that got out are the fortunate ones
Doubt the packages will ever get any better especially since they implemented the new focal which empowers them to let people go much easier without the bad PR. IBM use to have awesome packages now it's straight 1 month severance regardless of time at work.
@htx- intel.com/go/myben should state how much is in your SERMA.
Congrats to the people who got out under ERP. Wish I would have been eligible for that or VSP. It's painful to watch all the mistakes this company is making now. I admire the person who commented on Circuit that it's sad that reducing our average number of steppings has the same APB weight as URM hiring. And predictably he was shouted down with "URM hiring adds to the bottom line, we just can't measure it". Just plain insanity being spewed everywhere and intelligent people are no longer allowed to disagree with it.
The ERP is the best I've seen of the other elder-purges I've seen since SET. A huge carrot and better than the even bigger stick that will come around if they don't make their numbers. I wasn't ready to retire, financially or emotionally, but as exit packages go, it was hard to turn down. I didn't feel secure enough in my job (too far away from the chip) to risk sticking around. Let's face it, in the salad days, Intel was able to support a lot of secondary nice-to-have functions internally that are hardly business-critical. I suspect if things don't pick up in the next year or so, they will have to reconsider some more of those kinds of positions. That said, for some reason management (so far) seems to be immune to purges. I didn't have a lot of confidence in BK when he took over, and then he seems to have systematically over the past three years gotten rid of a lot of senior internal leaders. Everybody but himself.
Go grata = congrats
Go grata.. I share the same opinion of the package.. I'm loving the low stress environment now. I talked to Ayco and they said it would be a few months before the 12k SERMA shows up.
When you said you received the rest of the package did you mean your SERMA account? That (and the citicard reload as you mentioned) are the 2 outstanding for me. ERP here too.
Or maybe my SERMA has been setup and I just haven't received any notification of where it is or how to use it. hmmm.....
Excellent. You also have to be happy not to be working anymore for the backstabbing management at Intel. Congrats and enjoy retirement.