manager let me know unofficially that I would be one of the few getting hit by headcount reduction in our group around Dec/Jan
how did cobra work for folks affected last time? there are reports that say "at least" 4 months were paid for. wondering if I get coverage paid for cobra through next year so my partner does not have to get us more expensive coverage during this year's annual enrollment. I have been here 18yrs in case it matters for the severance coverage terms
Anonymous183543
Is this an isp that your manager told you or redeployment? Which group?
@193322: What I wrote was for the recent ISP. I don't have data on earlier VSP's anymore, but perhaps others can pitch in with VSP details.
Anonymous183581, Is this isp/vsp or redeployment?
Our corporate office is in Santa Clara and we work remotely in close proximity of FM. You are correct, around FM the big employers are Intel, HP and Micron. But a lot of employers have remote offices and that's how I lucked out. My office is 8 miles from my residence. We are not involved is Silicon design otherwise I would have offered assistance. I you can design printed circuit boards let me know and I can help.
Cool story bro
Anonymous184051 would you mind saying who you are working for now? If not I understand on an open forum like this but I'm finding it hard to find jobs in the Folsom area to do the Physical Design work that I used to do.
thanks folks, for the kind info. seems like the real GPTWers are more on the outside now.
I was at Intel for 16.5 yrs and it was 6 months of coverage. You will have the same health benefit as you have now and they pay 100%. I started a new job July 27th but still kept Intel medical which runs out End of Jan 2016 which saves me few hundred a month. They paid my 8 weeks of sabbatical and 1.5 month of vacation. All in all I received around 11 months of pay. If you are around Folsom let me know if I can be of any help finding a job. We recently hired two more Ex Intel folks. Best of luck and sorry to hear this but you be much happier outside Intel. Believe me.
If the July ISP can be used as reference (big if right there), then your COBRA benefit would be 4 mo for 0-10 years of service, 6 mo for 10-20 years, and 12 mo for 20+ years (no I don't know in which block 10 and 20 years falls, this is MBA/HR math). So, 6 months is best estimate.
Second, unless you have a plan in place already, then start looking for something else now while there aren't a lot of other folks in the same situation as you claim you're slated for. Set starting/available date late such that if your manager is wrong then you have a choice at that time. If you can establish an YSA, then max it out. Full amount available without contributions by paycheck deductions. If you can retire (on any of the rules), then there are benefits of doing so if/when the verdict comes down, see circuit for what those are precisely, but in July terms it was worth more than 1K. Also, if you are eligible for sabbatical then take it now (18 = 7 + 7 + 4, so after the new rules you should be eligible for the short form of it now).