Are you're going to sign the pay cut consent form in the next days ?
(for non US employees)
10 replies (most recent on top)
No. Because this is a wrong decision. They need to let go of employees instead.
Exactly, it sends the wrong message to Intel that we will bend over and take low pay now and in the future.
Maybe it'll get them to think of a two way incentive (e.g. time off)
In Europe where I live, the employment legislation is very different than in the US. Typically lower pay but better security. The unions typically has a great deal of power. Now if we were to accept this paycut, slowly but surely US employment insecurity and excessive employer power will start to spread like a plague. And be sure the HR presentations are mostly for managers wanting to look good to Pat, whose advisers probably didn't know many countries requires consent for paycuts :/. I'm not going to consent. My expertise is not up for bargaining. However now if the company desperatly needs the reduced cost I could do with a deal giving me some 10-11 extra vacation days.
I consented to a 100% pay cut for 1-year to help Intel out because I bleed blue!
Why anybody would? Basically company is offering nothing in return except vague promises. Even if it recovers (and I'd say odds of that are below 50/50), what guarantee do we have it will repay those who took the cut, and not just spend money on dividends or stock buybacks as it did previously in good times?
No way
You left the company in 2016, why on earth do you care? Let it go, move on ...
Yes.
No.
Intel have not been transparent about "restoring" or "rewarding". There are no timelines, criteria for restoration.
It's all stick and no carrot. HR meetings have been uninformative and primarily guilt-trips. This really solidified my position, which was 50/50 before. They clearly just want to appease Pat, look great and employee consent forms are in the way of that.
The paycuts are a short-sighted knee-jerk reaction to avoiding a blip for stockholders. Intel is spending a load of money on things that could easily be cut instead of my salary if they bothered looking past two months.
If it does cause layoffs, my group could lose 5% of staff without any effect if it was performance based. There are so many people who are net zero or minus weight on the group.
And if it ends up being me, well, I'll happily take the redundancy package and move elsewhere.
I’m a 2016 ERP-er. Can someone explain (a) which benefits are being cut, (b) for which grade levels each benefit cut applies,
(c) which cuts require the employee to voluntarily accept them, and (d) how long each benefit cut will stay in effect?
Or is this information still not publicized?