Wait long enough and BK will label you as a person of mediocre ability although you been rated as success forever. They will walk you out the door. You had enough warning from all of us during the last year but you still decided to stick it out. I bet there won't be a VSP package this time around either. How can they give out 50-$100K to each employee if the headcount is in the thousands. They will do w/o the package this time or cut it back SUBSTANTIALLY. Don't be surprised when you get a meeting notice for a 1:1 with no subject from your manager. He will then hand you a folder letting you know your position has been eliminated and you can't come back to Intel, EVER. The reality will then REALLY sink in, your heart will start pumping REAL HARD and your face will turn red and all thee thoughts will go through your head in a flash and you can't barely read the latter in from of you and can't breath and you can't wait to call your spouse what just happened. You then have to go back to your desk to get the hell out before all your buddies find out you were laid off . You will then pack up all your garbage you have collected in 10 min and rush out the door. They will do it. Just wait and see or leave now on your own.
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ozc corporations don't give a sh-- about you, that's the real fact.
Dear....
Intel Corporation (Intel or Company) has decided to reduce spending in the second half of 2015. As part of that effort, we have made the difficult decision to terminate your employment.
WARN Payments: Intel recognizes that being involuntarily separated from employment can be difficult. In order to help assist you in this transition, Intel will provide you with the following payments and benefits, with no requirement to sign a release:
• Two months’ Base Salary Payout following your separation date (this payment will be subject to
applicable tax deductions and withholdings and will be included in your final paycheck);
• Career Transition Services; and
• A minimum of four months of Intel-paid COBRA coverage for you and your enrolled dependents
(provided that you were covered under the Intel group health plan on the day prior to your separation date and you timely elect COBRA)
Additional information regarding the Base Salary Payout and these other benefits is contained in the Involuntary Separation Package included with this letter. These payments and benefits are expected to exceed any obligations Intel has or may have under the federal Worker Adjustment and Retraining Notification Act and any similar state or local laws (collectively, “WARN”). If you have any questions about WARN or need additional information, please contact Tess Stowe at 480-723-7872.
Variable Separation Pay: To further aid in your transition, Intel is offering you Variable Separation Pay in exchange for a signed Separation and Release Agreement (Agreement), which will be sent to you following your receipt of this letter. You will also receive an email from the Corporate People Movement Online Tool for you to review and accept this Agreement online. Variable Separation Pay is based on your length of service and will be subject to applicable tax deductions and withholdings. It will be paid within approximately 10 business days after the effective date of the Agreement. You can find more information about Variable Separation Pay in the Involuntary Separation Package.
This letter contains a summary of some of the provisions of the Agreement. In the event of any conflict between the terms of this letter regarding the Agreement and the Agreement, the terms of the Agreement govern.
Last Day with Intel –Your last day as an Intel employee will be Wednesday, July 15, 2015, and you will be paid through that date. This date is the first separation date for those impacted by this involuntary separation action. These involuntary separations are permanent, and impacted employees do not have
the right to displace or bump any other Company employee. Employees impacted by this involuntary separation also will not be recalled to work at Intel.
Important Benefits Information:
Please review the following helpful information regarding your benefits, which is on Circuit:
• Employee Termination Checklist
• Retirement Checklist for Employees
If you have questions regarding your benefits, please contact Get HR Help from the Support Services menu, or contact an Employee Services representative at 1-800-238-0486.
Unemployment Benefits – You may be eligible for unemployment benefits. For more information, contact your state Unemployment Office.
Repayment Forgiveness – Based on this action, you will not be held to any repayment agreement for prior relocation and/or sign-on bonuses.
As part of this process, Intel is involuntarily separating the employment of currently lower performing employees and repeat poor performers. Because you received: (1) a current 2015 focal or out-of-cycle rating of Improvement Required (IR); or (2) a stock share level (SSL) 4 or 5 in the 2015 focal and, in the past three years, another low rating (IR or Below Expectations (BE)) at focal or out-of-cycle or a stock grant of SSL 4 or 5, you were selected for this involuntary separation.
Please carefully read through the Involuntary Separation Package which contains some key dates and important ARs for you. Again, please let us know if you have any questions. You can direct any questions or requests for information to Get HR Help from the Support Services menu, or contact an Employee Services representative at 1-800-238-0486.
We wish you the best in your future career endeavors.
ozc you need to educate yourself on financial history. When you understand that only 1 of the original Dow companies is still around today you might begin to understand the volatility, indeed the "creative distruction" of capitalism. Until then vote Bernie and dream of socialism. When you wake up, let me know.
...or DEC or Sun Microsystems or...
Insert the name Motorola in the post below
Most people at Intel will never get laid off. That's the real fact. Most people at Intel will see a few get laid off many times over the course of their career. That's the real fact. Intel is a 55 Billion dollar company for a reason, because they don't fail. That's the real fact. Intel is unique in that they have the best talent on the face of the planet. That's the real fact. Intel does have a CEO and Leadership issue which I believe will be replaced by shareholders soon. That's the real fact. I too use to work for Intel for many years and was laid off, still love Intel, would go back if I could. That's the real fact.
We all will be effected one day or other
@yfp... Layoffs are a fact of life at FAILING COMPANIES. Tech doesn't have a monopoly on layoffs. And look at successful large tech companies like Google and Apple - you know the ones who don't just pay lip service to innovation and failing fast but really DO IT. When was their last mass layoff? More than a decade ago for Apple and never for Google.
Well, some people have to go, and it would still be a small percentage. No need to fear about that. Layoff is just a reality.
I just hope BK would do it in an honest and fair manner this time, unlike last time - firing you arbitrarily and then asserting that it is in the document.
Experienced this scenario 1st hand and know it frame by frame.
You don't belong in this industry if you are not prepared for the above. It's a fact of life.
Anyway sweet dreams