ISP:
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On the list are people who received a IR, BE, or S SL4, S SL5 in this past 2016 focal unless received a EE or O in 2015 focal.
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Does not apply to new hires hired after Jan 1 2015.
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Applies to all of Intel all countries all groups, including site closures. Some countries in like in Europe don't all layoffs the ISP turns into a VSP but with the ISP benefits.
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The benefits are 8 weeks pay plus 6mo medical.
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Employee walked out after 1-1 with manager and HR any day between 25th-29th depending on schedule.
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Exit is immediate though last day at Intel as far as pay is May 30 then benefits kick in.
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Person is considered as non-rehire
VSP:
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On the list are people who from 2013-2016 (4 focals) received no better than a S SL3 in the past 4 focals, and have been a in there GR level 2X the median time.
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Managers are asked to tell employees that this a very attractive package and considering there marginal performance and the coming cuts to seriously consider taking it.
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The benefits are 8 weeks pay + APB x1 + from 4 to 48 weeks depending on LOS in two year increments + 1 day of QPB + 1 year of medical.
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For +20yr employees this amounts to nearly a year of pay and medical to leave Intel.
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Need to choose by Jun2 last day is Jun 24.
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If rehired within 12mo of last day person must pay back the prorated portion of benefit.
ERP:
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Anyone who is over 60, Rule of 75, or new Rule of 70 55 and at least 15 years of service.
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Many of the standard Intel retirement + 12-18mo of medical + 1 year of pay + APDx.
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Need to choose by Jun2 last day is Jun 24
Project Cut Effected:
- To be announced at end of June, so after dates for the above so as to take into affect the early program acceptances. Employees will be informed of redeployment or a mandatory VSP with equal benefits of the earlier VSP.
Repost from: @H4yq2KR