Ten days to update your resume and LinkedIn, revive your networking, and send out as many applications as you can. If in the end you don't get laid off, you lost nothing. You might even end up with a new and better job. If you are laid off, you have a good foundation to build on. Take it from somebody who's been laid off before, you don't want to wait to do all of that after you've already lost your job. Stakes are ten times higher and with that come avoidable mistakes.
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If you like, find another way (cloud storage, etc.). Or let it all go — that might be cathartic!
Of course if you’re on the hit list already, is an investigation by IT Security (which will probably itself take a hit) a big concern? 😆
Using a USB will get you an investigation by IT Security nowadays. Don’t do it.
For those with a technical bent, have the content (code, docs, etc.) you want to keep for future reference organized and then download it to USB before the sh*tshow starts. Back during my 2016 ERP, this included (1) my Outlook ost and pst files to bring over emails (this may not work nowadays) and (2) the company-wide email list from the public facing app that had that info at the time — I think it was called CDIS). Bringing over what you can now may help you avoid reinventing the wheel at your next job.
LinkedIn doesn't do jack squat. You need to talk with your contacts on the phone, or in person.
LinkedIn doesn't do jack squat
not a good time to be laid off considering the recession we are in (Unless you believe "the Big Lie" that we aren't in a Recession). Pickings for jobs out there will be slim as many companies are not hiring. Those with real skills will fare much better than those whose skills are weak. And companies that are hiring aren't looking to hire just for the sake of being able to 'check boxes' with "diversity hires' as that game is worn out and over. Companies are returning to the mindset of hiring employees who have good skills and bring real value and results.
What would be the price for Cobra after layoff? Will Intel help to cover some expense for Cobra?
If you have 401K loan option available, consider doing a loan if you think you are 90% on the cut list. Yes, you will need to pay taxes on it next year as regular income BUT, otherwise once you are layoff you will not have the option to pull "some" of it unless you pull everything out or you are 59.5 which you can start pulling money out without the penalties.
At lease a tactical option to get some $$ without having to sacrifice your full 401k right now...
Why don't disgruntled or laid off Intel employees switch to software and join FAANG? They could double their salaries.
Great advises on this post. Please keep them coming and share any BKM's you may have so we can help each other collectively.
If you don't get affected at the end, then good for you (I guess) but if not, at least we shared and did everything in our power to get the most out of it and help our fellow employees.
Keep it coming please...
Here’s a tip - if you use your Intel email address for different things / websites and have all your passwords saved on your Intel laptop maybe start unwinding that now. Any old timers recall the “1000 manager purge” or 2015 perp walk know your notification and end time can be short and some people didn’t get a chance to transfer this type of stuff before. Good luck.
The writing has been on the wall for a while now. However, the job market has shrunk dramatically after chip shortage ended 6mos ago.
Good Luck!
Good advice from the OP. It didn’t take me long to find a job after Intel laid me off, but I didn’t stay at that job. The grass isn’t necessarily greener elsewhere, and in my case the company I went to was worse.
I’ve been looking for work since June and having terrible luck. So much so that I am considering a career change outside of the tech industry because Intel burned me out, I am considering a seasonal job too slow down the burn rate on my emergency funds.
One more piece of advice. If you are laid off, you might qualify for benefits through the Trade Act. I did qualify, and am working my my local employment office on potential retraining and job placement. So not all is lost…yet, we’ll see how it goes.
Agreed with OP!! Also go thru your email contacts and documents and don't leave anything behind. Hopefully this time people affected will have time to do personal cleanup from your work laptop and such but don't wait for the last minute.
Open Enrolment window is also open so keep in mind if you are layoff, they will offer Cobra for ~18-month which will be whatever plan you have chosen on this open enrolment so plan accordingly.
If you are retirement eligible (rules 55,75,65) then also check the Encore program which Intel will pay you 25K in exchange of 1000hrs of volunteer service once you "retire" but the kicker is that you need to apply while being (next few week) an Intel employee.
If you have an Intel pay phone, you can transfer that account to you and keep it (you will pay for it) but at least you keep your phone if it is something you have been using for years.. Check IT marketplace and there they will have the process to do this change.
HR is working on the micro-schedules for the actions , but targets days will be around mid to end November so plan accordingly as you still have at least 2 payroll(1 for sure) checks coming so maybe you want to stop any SPP, 401K,..deductions on these few payroll left plus also on the severance pay as you may not want to put 5,10,15% from that into your 401K right now and max out your cash in hand?
Few friendly advices at the tactical level but I am also looking forward for this and take a break from my health being.
Dude, I'm chillin'. Time to retire.
Hopefully you all started early soon about thousands will be hitting the LinkedIn, are you the best of the laid off