Are the packages same for ISP and VSP?
14 replies (most recent on top)
Just to be clear, someone with 4 years of service who gets ISP coult get 1 year of Medical?
I hope that is right, but am skeptical
The cash and medical portions of the various non-ERP packages (i.e. ISP, VSP, Site closure, and Project cancellation) are all the same. I learned this from the site closure presentation at my site.
Cash: 8 weeks + 1.5 weeks * # of years of service
Medical: Two otpions-
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6 months + $9,000
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12 months
The 2 vs 3 month ISP vs VSP comment was from me, describing the 2014 package. Not this year. That's why I say this year's package is not a good one.
The only difference between ISP and VSP is ISP is blacklisted from being employed by Intel again. VSP can be rehired 6 months later.
@H4sGw81you were shown this slide at your site? Where did this slide actually come from?
The foils shown to us in Dupont showed the exact same departing package for all 4 cases - ISP, VSP, end of project, and final site closure. The LOS was part of all of them. Only the enhanced retirement is different.
no one actually knows, everything "leaked" is exactly that...nothing has been verified or confirmed by Intel, unfortunately you'll have to wait and see what the official terms are just like everyone else :(
someone on this forum stated 2months vs 3months (for ISP vs VSP). +LOS for both
is it true?
but HR (claiming to be) didn't mention the LOS on other thread - Where did that foil actually get leaked to, the Oregon live?
yes, info here: http://www.tiikoni.com/tis/view/?id=78ce21d
So ISP you still get the LOS payment too?
yes, your LOS is the dependency factor. Also, if ISP and eligible for sabbatical (benefit, not an entitlement) its likely you will not get cashed out for it. If VSP and eligible for sabbatical, others who got VSP last year on this forum have statd they were cashed out for it, in some cases the VSP ees took sabbatical immediately upon getting their VSP notification and used that time as their 2 remaining months instead of working and then termed the day after sabbatical was up and took their package.
That is the ideal scenario, not that anyone wants to spend their sabbatical looking for a new job but anyone in that position would be foolish not to take VSP, use sabbatical to find a new job and take the money offered.
other than the "rehire" clause, any difference in "monetary" packages?
no. ISP are not eligible to ever be rehired again at Intel.
VSP can be rehired in the future but if within a certain time frame from term date they have to repay back part of their monetary portion of their package.
Someone just posted more details of the packages and stated it came from HR