You were recently informed that you are eligible for the voluntary separation program. As you seriously consider this over we want to provide information to help you make an informed decision. Employees choosing Vsp are paid through June 24, 2016 plus a Q2 qbp cash equivalent. If you decide to stop working earlier you will be still paid through the June 24. The payout range from 15 weeks for 4 years of service 56 weeks off for 30 years of service. Please note that week so pay is calculated using base salary plus APB target so the payout may be bigger than you think. You have also choice of six months paid medical coverage plus $9000 cash or 12 months of coverage. The VSP includes outplacement services which includes personalized job leads, career counseling, resume guidance and social media profile building. We will hold on-site forums soon. in recent years 85% of the Intel employees using the service found jobs. So please consider to attending one of the forums. The Vsp packages are market-leading and highest is offered by Intel in the past several years. When ACT ends we will return to normalized packages which would be significantly lower than currently on offer. We will achieve act targets through combination of voluntary and involuntary programs, project cancellations and efficiency programs. If we don't meet our targets, we will take the follow-on actions, including involuntary headcount reduction. Those impacted by these follow-up actions may not receive packages compatible to the ones currently on offer. The majority of employees impact it would be notified by June 29, except those countries outside of the US which require a longer notification process. We will manage lower performance each year.
27 replies (most recent on top)
@dqa take the money and run
@dqa- You could be on the VSP list. If you are also eligible for ERP, you would be offered ERP first. ERP is a better package. Take it and run.
So here is a challenge for BK:
Intel’s board of directors includes 11 peoples, including you. Grade them from 1 to 11 according to their performance in the last year. What was the performance of each and everyone in this team comparing to their statements and goals, 1 year ago or 3 years ago.
What new innovations and ideas have each and every one brought to his role? How many will get SL5? How many will get SL4?
Where would you’ll be?
EUR 75,000 (after taxes) for 10 years service.
Did NSG get one of these?
I put myself in your shoes and I feel your pain. They sure are putting the clamps on. They are desperate. It shows not many are taking the VSP so they have to push people to take them which will save them a lot of headache if they have to go to rate and ranking which is very time consuming.
BK wants the 12k he promised Wall Street and he doesn't care how he gets it...
If they are indeed combining VSP and ERP people in that email then I wouldn't worry too much if you're ERP. Yes, future ERP's may not be as good as this one, but you're not VSP meaning you don't have the low performance warning portion of it.
I was offered Enhanced Retirement Package (not VSP) on April 25. I am 58 with 30 years of service. I decided I would not retire at this time. I like my job, my manager and my co-workers. At 5:30pm today I received the "VSP" message from Ann Kelleher. However, I was not offered VSP on April 25. Why did I receive this message? Are they now rolling ERP under VSP?
Remember, there is still a reorg in PEG to go thru. Streamlining and consolidating the work force even more. I believe the VSP offer is a legit warning you are in serious danger of getting released later on down the line.
WOW, sorry folks. This does not look good and not like the previous VSP's where you could just ignore it. They will come after you if you are over 40 or older, grade 8 and up. These SOB's re ruthless. I would take the package, definitely. Gives you plenty time to find something else and get out of this misery. Why would you stay with these conditions. I was ISPEd last year and went right back to work within two weeks so can you. Take care friends.
My guess..The plan is
2016 (by end of June/early july)
4000 isp
6000 vsp (currently some ultra low number hence the panic)
2000 efficiency..site closure
2017
4000 isp
Rest of the workforce reduction TBD
And it could get worse if market deteriorates any further in the coming quarters
Vpg got it too. Also there's apparently this two focals of ee/o or no promo for you! So makes it even harder to not get cut next time.
Intel management doesn't telegraph the message more clearly than this: take the VSP or be fired - and, when you're fired, the package will be smaller.
I repeat: this is as clear as they can make the message.
Get. Out. Now.
If they care about "respect and humility", give out the cut numbers not on June to 29th, but before the June 2nd cutoff.. That is what pisses me off the most.. Let me make an informed decision if you are " asking" me to make a decision..
Beautiful responses by rrh and aqr! Think bout it. Has TMG improved at the hands of BK, Ann and Sohail? Their business has been degrading at the hands of these inept fools who actually call themselves leaders. Take the money and run, team. You will not get a better deal and Intel will continue to languish in horrible decision-making. If you don't already know it, these ninnies are not good at it.
Will manager's input matter when the decide to chaglnge VSP to ISP? I recently, changed the group, the last years focal was done by old team, I am offered VSP and the new manager is asking me to stay. But, I am confused about what to do.
PEG got it, as expected.
Would like to know if other groups such as DCG, NTG, HR got it?
This is sad folks. It is a direct threat and shameless doublespeak, take VSP or else, while talking about respect and dignity.
"We will manage lower performance each year." The low performers are you Sohil and Ann, the dumbschits who decided 10 years ago not to team up with Apple to develop a chip, the morons who wasted 10 Billion Dollars in debt on mobile market, the fools who over paid for Altera, the idiot who decided to get in bed with the race hustler Jessie Jackson, and our incompetent Libschit CEO who thinks he's game show host which no one watches. You Sohil and your minons all the way up to BK can kiss my azz on my way out the door.
@HkHa1kd-jbi How long have you been hoping it gets better? Years I'll bet.
It ain't getting better. In fact it will get worse as everyone is now 100% clear that the only way to survive is to make your teammates look bad. Backstabbing will be encouraged, rewarded, and recognized, even more than it is today. Leave, start your post Intel life. It will be fine.
It's a standard form letter all of MCM got. CCG got the exact same as well. Navin makes it sound so exciting! F--- you.
@jbi I feel exactly the same way. The email didn't faze me though. Watching my colleagues "disappear" last week though, that was tough.
TMG got it. My manager suggests I stay but they've not had a say in these cuts, so why trust that?
What teams got this email?
The Big D said so - A lot will depend on your manager and your own assessment of your roles and responsibility. If you think the ground below is shaky it probably is. There are groups that are very competitive and so your manager input will matter. Talk to your managers and assess yourself.
Yep, just got that email from Sohail and Ann...makes me feel warm and fuzzy all over. sigh What now? Cave and walk away from the company I've loved working for since joining as an RCG so many years ago because it's become one that I no longer care to be associated with, or stay strong hoping for better. I think the answer is clear yet I just can't believe this is how it ends. Wow, I'm sad and angry at the very same time...