No information like always. Thanks guys. You had one job.
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Well, here I am, seven years from intern to full-time.
Any advice, guys?
I am way too young for VSP/ER.
As it seems, I don't have much hope.
I know I probably won't be selected this time.
But is there really a reason to stay?
@a4+1jsprnb9k The early retirement (and all other voluntary) packages only signify that a person is eligible. They are not an invitation or suggestion by HR or the company for someone to leave.
'Hold on, if they offered you retirement package, then they wanted you to retire.'
Every time they have offered ER packages, they then act surprised that so many (who have been waiting for an ER package to leave) leave. Same thing happened after ACT, which was the last time an enhanced ER package was offered.
I can't speak for anyone else but have always considered the enhanced ER package to be akin to getting a gold watch after so many decades of service, a reward for staying when it would have been possibly better to have left long ago.
So glad I left in October. I feel bad for those leftovers.
Frankly, I was going to stay at Intel for at least another 5 years, and have been somewhat of an essential employee for the last 17 of those 2 years. But the early retirement package (almost three years' net salary paid in advance) was so great that I couldn't refuse it (to be clear, I'm not from the US). Thank you very much, Pat, for my beautiful new home with a sea view for me and my family. I fully understand that the VSP and ER packages offered last year were not acceptable for Intel in its current financial situation, but were entirely consistent with other strange decisions by Intel management at the time. Hopefully, Mr. Louboutin will prove to be a more adequate leader.
Could have just been an e-mail.
Take the Package and RUN.
If you still want to work, find another company with interesting projects.
If you don't find anything you can always comeback next year.
For the love of God, why is Dave still an employee of this company?
LBT could and should start getting better ELT members, because he is surrounded by incompetents.
Bad enough that they can't develop a competitive strategy, but they can't even execute, as proven over many, many years of fiasco.
@a3+1 I felt the same, but then looked at the situation and came to the (correct) conclusion that although I was not at risk for ISP, within 6 months they would lay me off to hit some new, lower target.
So better to take what was probably the best and last retirement package I'll ever see, than to get 6 months of pay and pushed out with very little.
I think the reality of the company downturn has still not really sunk in. x86 is rapidly losing to ARM and AMD has taken x86 share as well. None of that is coming back in a meaningful way and there is little admission of that from the company.
LBT is not going to solve the x86 issue by flattening the org, but it might delay the final reckoning a few years.
that was obnoxious why can't finance person stay on message for 1 hour
Dumping all the blame on execution is what bothered me the most. It just means that have no clue what they are doing.
Our execution was poor, so was our strategy, so was our culture.
Dumping billions and billions to build empty shells for foundaries all over the world without having a competitive node? Missing the AI wave? Repeatedly telling that we had hit the bottom only to follow up with layoffs next quarter ? They had no idea what they were doing.
ELT and upper management exonerated themselves from any wrong doing !
@a7+1 I for one am happy with the retirement package.
Great way to exit after so many years with little promo or raises, while doing work for which I doubt they have found a replacement.
Lesson for anyone who doesn't already know: When offered a good deal, take it.
Thanks Pat!
Strategy was to get Atom compete with ARM. Execution failed miserably.
We found out it’s execution, not strategy, to blame.
Yes, it was execution that decided not to make iPhone chips. Execution that passed on EUV. Execution that made the boneheaded decision to light piles of cash on fire to build fabs knowing products they produced weren’t competitive.
Hilariously, 2 sentences later, ET admits it can’t even execute a layoff properly. Paying some of your most knowledgeable talent to retire early isn’t a strategy…it’s just sloppy, lazy management.
So, indeed the issue was execution - a complete lack of it at the executive level.
@op: What info do you want from the meeting?
Everyone at rule of 75 got the offer. If you worked at Intel you'd know that!
Hold on, if they offered you retirement package, then they wanted you to retire. Don't make it sound like you were trying to help Intel by turning out the package.
Last year I turned down a retirement package to help rebuild Intel. Now I’m going to end up with less pay than if I’d left. Anyone thinking of staying, remember you mean nothing to Lip-bu or anyone in management.
What a complete waste of time. Hilarious considering LBT’s comments on meetings.