I was offered VSP last year and ERP this year. I'm a fifty something white male technician in Oregon, am I crazy not to take the deal?
10 replies (most recent on top)
If I qualified for ERP... see ya wouldn't wanna be ya!
If you have good financial health, I'd take the ERP and change careers to something fun and low stress. What have you always wanted to do?
Got offered targeted VSP in 2013 and didn't take it. Was a wake up call that I needed to change groups and step up the pace to establish a great track record. Still here now.
I don't know about crazy, but look at all of your options. The VSP and probably the ERP are targets that have been put on you. You can probably say no, but you are going to have to work harder to get them off.
Or you can gamble as I did. I received the targeted VSP in 2013. I did not take it. And I gambled well. I got layed off in 2015, but the package was better and I had 2 more years of salary and LOS. It meant when I was finally walked I received 1 years pay and 1 year of free health benefits. Look at all of your options.
meant early retirement package on the last post.
ISP= involuntary separation package, ERP= early retirement plan
It's been awhile, but what does ISP and ERP stand for. Thanks!
Concerning the voluntary plans. Please don't sign them early, you lose any negotiating leverage. Since HR is staffed by robot drones, they will look up the tables to determine your exact package. Looking at the Involuntary layoffs, they will not reach the numbers needed and voluntary packages are far better for management, less disgruntled/angry ex-employees that way. So, do yourself a favor and do not sign early for voluntary packages if you want a chance to negotiate something extra.
BTW, this site is awesome, gives employees a bigger voice vis a vis management calling the shots and the destiny of many lives that will change as a result. All while BK is enjoying his raise granted by the Board and Murthy makes an obscene salary doing a very unpleasant job while being new to Intel. Also let's not fool ourselves that big changes aren't necessary, it's just business so ask for more if you choose to exit. This is an extremely talented and dedicated workforce, be confident, your next chapter can be your best one, use your smarts and succeed.
Same boat as you OP and I have always said that when leaving Intel, I want to leave with a good package. This is as good as it gets and the layoffs have only begun. There are no guarantees that if we survive this round of layoffs, the ERP will be offered again on the next one.
Take the offer...should be very clear by now that you've been offered twice to kindly leave, many others on here posting that they didn't take the offer the offers in 2014 only to be ISPd in 2015. Also many people posting that they were eligible for both ERP and ISP, only to be given the lesser of the two (ISP) this year. Definitely take it, writing on the wall, Intel is turning its workforce....