All we can do at this point is prepare for any possible outcome the best we can. I know that for many this is a scary period, but in the end, all of us will be okay. I was laid off before and when it happened I thought my world had ended. I ended up in a better job with better pay within two months. Things will turn out fine in the end.
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It is sad but after pocketing 160m in compensation (based on what results? Lower revenue, lower stock?) hiring/maintaining a D team, and now planning to lay off thousands of employees after bragging about hiring 25000 new employees in the first half, I am sad to say that Pat has put the final nail on intel’s coffin.
Employees have been tired of living through all the hypocrisies - rewarding of failed, ineffective leaders, constant promotion of empty talkers, politicians, and they have not been giving their best. Gladius, blah blah is not going to fix Execution.
In 2016, intel implemented various unfair ways to fire employees. One person mentioned SL4. You can be rated performance level 3 - meets expectation and rewarded with stock level 4, a level down. How is that possible? Your performance and rewards should align or rewards should be the results of performance, right. Wrong. Not at intel. Corrupt HR enabled managers so that they can punish some of their employees without any legal issue. One selection criteria for 2016 layoffs was Stock level 4 or 5 (SL4 or SL5). It resulted in firing of employees that were performing but not liked by their managers.
Another was number of years at a job level. As many of you know, when you are starting in your career, you tend to jump up levels fast. As you become more experienced, you tend to stay longer in grade levels. This is only natural. But by using this criteria, Intel targeted older employees.
The mastermind of 2016 layoffs, BK, shortly after laying of 12000 employees,
promoted his TA (who was a recent MBA) to the VP of diversity position with no interviews, job postings. He doesn’t understand the meaning of diversity - treat everyone fairly (give everyone a fair chance in recruitment, promotion, equal pay etc) irrespective of their race, color etc…he just wanted to support his TA. And he also took care of his girlfriend’s career
Enough said. I am not impressed by the new talent intel hired recently. How can you expect to hire 25000 employees in a short time during the hottest job market. Unfortunately, talent that was hired is unimpressive vs internal talent and is paid higher in order to get them on board. Our HR must be the stupidest. It is already not motivational.
anyone with a brain is already gone. only politicians left at intel.
@1zaj+1jcEztk3 simple. Intel, and most big companies, pay you to leave because of reputation and lawsuits.
The semiconductor industry is near the limit. It’s near the limit in the sense that we can keep shrinking transistors but we can’t shrink atoms — until we discover the same particle that Ant Man discovered. Our transistors are going to find limits and we’re at atomic scales. And so this problem is a place where material science is really going to come in handy.
@bvn+1jcEztk3:
Why is it a win for Intel to pay you to leave? Are you saying intel is better off without you but Intel has to pay youto get rid of you? If that is the case shouldn't you just leave rather than being mediocre and trying to stick around ?
These layoffs and recessions may last a while, but in the big picture of things they often work out well for the vast majority of people if Intel does the right thing and provides a decent package. I know people who were let go in SET and ACT and are much happier now. I have mixed thoughts on Intel - it's been a great place to work for 20+ years, but with the right package I'm ready to find something else. With a good package it would be a win-win for both Intel and me so I'm not too worried. For the younger people just out of college, yeah this can be tough, but recessions don't last forever and the Fed will start dropping interest rates to spur the economy into another growth bubble.
I was let go during 2015 ACT because I was successful but had a SSL4 in my last review. I started my new job the week after leaving Intel. Our company stock is >$500, make more money and no layoff stress and full remote. Best thing that Intel did for me is let me go in and stupid on their part. My new company appreciate my work, my manager and specially coworkers do not back stab me like they did at Intel and it's the best feeling. Cheers