Getting a VSP today is a nice way of saying take the package before we fire you without a package in June. I believe the earlier people take it the better it is since there are many jobs currently out there. Coming June I doubt there will be any jobs left. Note that not many people have got VSP as expected which means the people who did are in the bad books of HR for any future head count reductions. Comment if you agree.
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Intel has opened Pandora's box. With GLs holding so much power to make or break someone's career with one stroke of a pen, L3 stock will be the new VSP for future Focals. I can see an ODI initiated for every L3 next Focal...
I heard that during some call with the Asia people, the Intel CEO said that AFTER the layoffs, the Intel revenue per employee will be at an all time record high.
So.....if 11% layoff gets the revenue per employee to a new record high...that metric is pretty damn close to existing record for revenue per employee.
Not many other companies or even other CEOs would consider the current situation to be "a time of great difficulty"....sorry to point this out.
The company feels it can mass fire without suffering any consequences. It's that simple.
I've already talked to CALPERS on a possible shareholder proposal on "ethics"...interestingly the 16$B altera aquisition came up as a big waste of money...shareholders will never got their money back on that one.....same as prior aquisitions.
With the $16B, Intel could have given VSP to all 100K employees.....it's what the CEO secretly desired but the board turned that proposal down....so I am told.
VSP is the new BE( below expectation)
the past were different times at Intel. Intel is experiencing difficulties and will likely continue large reductions through 2018. Would be wise not to bank on what has happened in the past...
I think all the people that are encouraging people to take VSP offers are the ones that want other people to leave Intel so that they don't get cut themselves. Ignore these people if you got the VSP offer. For all you know, everyone at Intel could've gotten it.
This is not consistent with my experience or the reputed size of the VSP offer.
VSP offers can be broad because so few take them. Once it seemed like my entire business group got the offer. Maybe 7-10% took the offer and went off to take new jobs or be stay-at-home parents or new retirees or whatevs. The rest just stayed on.
I, and several other people I know, have been offered these things before and we ignored them and not much happened in the following years.
But maybe it's different for different sites, business groups, job titles, etc.
agree, I am former HR and my experience would say that anyone who received VSP is receiving a message to take it and leave now, or come mid-year you will be given a performance message of trending down. Expect to get SSL4 or IR in Focal 2017. Unless of course, your manager has already communicated your are trending EE/O AND YOU HAVE IT IN WRITING from your 1:1 notes. Otherwise, VSP GET OUT NOW, you can always come back as a rehire, if you get hit with ISP you are not eligible to ever return to Intel.
I agree, you are already at the head if the line for the next cuts, and they are being nice giving you two months to look for a job (end of June)
Agree. They will bring back mid year with a vengeance. So if you decline, come August you'll be tagged as IR.