- 4 weeks + 9 weeks redeployment+1.5 weeks x # yrs + 1 yr Cobr+ all the retirement benefits
- Max 47 weeks
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The "pool" time is part of your severance. Don't waste time in the office or doing any work. That time is YOURS to find a new job. All roles will be frozen internally, so spend this time wisely OUTSIDE recovering, getting your act together, and finding a job externally.
Many fools have spent this time licking boots and a$$es only to find no headcount and three months of wasted time.
Will this be the only cut? HR and Pat will never say that. All options are on the table. More could easily get cut throughout 2023. The PC market looks pretty bad, and Intel is in an extremely deep ho-e. Be strong. Make a move.
@jhl It’s out there. I found the link you can too
Saw nothing on HR web site about layoff package
Someone is making this up
Sweet deal, take it and run.
@ OP, not completely accurate.. it is 4 weeks of pay + 1.5 weeks of pay for each full year of service; Not to exceed 47 weeks of separation pay..
Beside this, you also get the 9 weeks (looking for job a t Intel) + Vacation time + sabbatical time depending on your location.
So, it is not capped to 47 weeks at all, and some people could get up to 72 weeks if they max out all the different components(vacation, sabbatical,..etc).
Plus you will get some of the APB's and if you qualify for retirement, you get 1 full year of vested stocks if you are under 60 and above 60 you get more vested per years of services.
What you mean 9 weeks redeployment? Like 9 weeks of working till you find a new job ?
Layoff officially starts?
@ouf+1jyDzSqR, why people stay in this company is beyond me.
Better than how they just walked me with an hour to pack my office and USB to download my personal stuff from the laptop.