Has anyone who was CPMd received this payout? Wonder if we'll actually still receive it.
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The reason it is cheap is because Intel gave us what we lost as salary in 2022 as RSUs. The number of RSUs were calculated based on intel’s stock price I believe at the end of 2023. Since then stock lost more than half of its value. So we are getting less than half of what they actually owed us. Intel’s management once again managed to cheat employees.
But think about it, because of this management, this board, we lost money in 2022, we were paid less salary, terrible APB in 2022. There were large number of layoffs and that was the saddle. And then they managed to make the situation even worse, they are still around. Unbelievable
It is WAY SMALLER THAN EXPECTED.
Paystub for 12/31 payout is now available. The payment falls under the category of "performance bonus", but it's the 2023 paycut.
I'm also seeing a direct deposit for 2k+ due by 12/31.
I took the voluntary separation in July.
I see a deposit from Intel posted to my bank for Monday (12/30) for ~4k. Definitely looks like a very small thank you bonus?
I sent a message to ASKHR on this. They responded and told me that the FMV of laid-off employees' thank you RSUs will be calculated based on the stock price on Dec 3 and the the after tax proceeds will be deposited between Dec 25 to Dec 31.
@brzx - pretty confident it will post prior to 2025… they want as much of the “dead money” out the door before the close of the quarter…
It is literally just them saying 'Thank You', which does not require a workday entry, or update to Etrade.
I'll be quite happy if it posts in early January rather than in December. With the severance package it pushed us into higher tax brackets for 2024 so getting it in January would put it in a year with lower taxes.
For the $0 12/20 payment it shows employer benefit cost on my end under the Employer paid section(401K match is here as well as what they pay for Basic Life and LTD. Guessing accounting for year end taxes and cleaning up the books for 2024, perhaps this was their cost for my Health Insurance plan for the year?
"Are you guys seeing a paycheck with Payment Date 12/20/2024 and 0$ on your Payslip page and MyWorkDay?"
yes, same
To the last poster who've mentioned a payout $5,680 USD...
Was that information sent to you after you emailed AskHRquery or you got an email from Intel?
Are you guys seeing a paycheck with Payment Date 12/20/2024 and 0$ on your Payslip page and MyWorkDay?
Post from TheLayoff.com
That's right. For those who are CPMed will get a deposit the "Thank you RSU" to bank account by end of the year. HR even said I will get $5,680 USD.
Here are the details:
• Grant Details: You were granted 2xx shares on December 3, 2023.
• Estimated FMV: The estimated Fair Market Value (FMV) on December 3, 2023, was $23.095.
• Gross Payment: Based on the FMV, the total approximate gross cash payment is $5,x-x USD.
12/17 and nothing in either bank account or ETrade. I called Etrade to open an inquiry on the exact Award RSU number.
Is this applicable for those who were ISPed?
Nothing yet. Called HR 2 weeks ago and phone drone said it could be Dec15, 30 or Jan 15. I think it may be never.
Bueller… Bueller?
you're welcome
It isn’t coming on the 14th if it wasn’t deposited today… good ol’ Zinsner will hold on to the cash for 14 extra days for the interest…
Is this only for exempt employees who are current and who left during CPM? Or does this also apply to non-exempt? I haven't heard anything about any year end money. Or is this that $600 we were to get in Jan that was cut to non-exempt when we took CPM?
The 15th is on a Sunday so it should have been paid out today and I didn't see it in workday or my account?
It will be paid out on the 15th. It is based on the stock price of December 3rd. Which was 22.47. You will get the cash equivalent direct deposited in your bank account…..not your Morgan Stanley Etrade account if you left Intel. Current Intel employees will get the stock direct deposited into Morgan Stanley ETrade.
CPM handbook says by the end of the year 12/31/24 - Intel is floating the thank you bonus money for some interest to pad up Q4 earnings.
Nope. Not yet. Should get paid out via direct deposit. They are to convert the shares to a cash amount based on the average price (high vs low) of the stock on 12/3, which I believe was around $23.09. I'd imagine it is paid out as a bonus, so expect 22% in Federal Taxes (if in US)... not yet in my bank account, so getting a bit curious as to if/when it will be coming.
That’s incorrect, Thank You RSU’s vested 3rd December 2024. Intel HR contacted me to say a cash equivalent would/could/should be provided which I thought was a wonderful gesture. However Gelsinger resigned around the same time so waiting to see if this will be honoured & hit my account. Intel are under no obligation to do this & despite the dire state of the company it would be nice for Xmas.
Yes. Check your etrade account. All RSU (after withdrew tax) are vested. It actually happened before your final severance payout check. You could find out its payslip (with 0 cash payout since they are vested and held in your etrade account) from Workday