My new mgr is forcing me to take the VSP . I don't want to take the VSP and rather be ISPed . There is no difference between the packages except 1 month pay - the ISPers were paid till end of May and the VSPers till end of June and they get to take their vacations . How should prepare for an ISP ? I have updated linked-in, my resume and looking at job sites . I also plan to copy over my personal files from Intel laptop . What else ? How do emotionally prepare to be laid off after 20 years ?
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I would not come back and work on the Titanic.
Take the VSP as ISP will be ugly.
They will not say anything about rehiring or not except "no comment, not allowed to talk about that per corporate policy." Else they open themselves to defamation (blacklisting) lawsuits. Try it out, call their hotline number and see if they will confirm/deny the hiring eligibility.
I would never think of coming back but that's me
I think the little detail of "can never work at Intel again" that come's with the ISP is a big difference (or can be, if you would ever like to be rehired at Intel). With the VSP, your future options with Intel are still open, if you want them to be.
So your 2 options are:-
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Take VSP - 1 year payout, maybe more depending on your length of service. When a prospective new employer calls Intel for employment verification they can say you are eligible for rehire (not a low performer).
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Wait for ISP - smaller payout (maybe less if what management is threatening is true). You get 26 weeks of unemployment at a max of 500+ a week. When a prospective new employer calls Intel for employment verification they can say you are NOT eligible for rehire (low performer), i.e. reputation hit. You will have to counter this in your interviews.
Clearly your new manager has put you on the hit list. At least they are giving you fair warning. It's up to you but if it was me I would run the numbers under both scenarios. For those with longer service VSP is actually more $ than unemployment. You can take all your vacation and leave on your own terms instead of doing the walk of shame, which is bad. It could be worse - the way they're handling things there I wouldn't be surprised if someone comes up with a bell and starts chanting "Shame ... Shame ... Shame".
Remember that deal was - they pay and you do your job, until all sides agree to continue this. So no hard feelings, just business. If manager not interested in you - write resume and try to find another job - inside or outside of Intel. Don't worry you are doing much better than average American anyway, you will find some job. Don't stay in that team, move or take VSP.
Isn't unemployment payments suck.
They wouldn't make up if 29-32 weeks of salary.
You can't be forced to take the VSP. Yes, they can convert it to an ISP in a month or two, but that's a month or two of salary you'll still get, plus with an ISP you're eligible for unemployment. There's a part of me that would like to call the manager's bluff on that. Even if it converts, oh well, I doubt the packages will be any worse than they are now. But that's your call.
During your exit interview, take advantage of the time to throw your mgr to the wolves. Tell him to his face what you think of the process and his role in it. You will not have another chance.
Sorry to hear about your situation, three things to consider
1) New Manager, screams of bad situation
2) New Manager tells you to take something, screams of a bad situation
3) VSP has some form if dignity versus ISP, take it!
Take the money, it is hard after 20 years, but life must go on. Intel isn't live, its a paycheck, and it is clear your boss doesn't want you. So you are screwed if you so you might as well take the package and get it over with.
What's the new career?
I say "take the money and run". I was in the same situation last year. I had 24 hrs to decide what to do. I chose to take VSP. Otherwise, I would have been ISP'd a few months later. Once you are offered VSP, you are marked. There is no hope to recover. One bad focal at the wrong time and 20 yrs of service are for naught.
Realize that leaving Intel after so many years is like a divorce (vs. a death - Intel hasn't gone under). It took me almost 1 year to recover. I am getting ready to start a new job in a few weeks in a completely different industry. I am finally able to close the doors on Intel.
Lube is optional
How to best prepare? Just bend over and bite the pillow.
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Don't the unemployment benefits suck compared to 32 weeks of pay?
The people who have received ISP and walked haven't received the package because Intel is paying them a final check 30 days later. A week after they get their final check they will receive the ISP package and the money will be deposited to their accounts. Relax folks, Intel will get you your package.
I haven't been given ISP or VSP, was really hoping for it though (may still leave regardless). But if I had a VSP offer with a deadline I would probably ride the ship and see if I could get ISP. I think I would want the umemployment benefit too.
Take 2 weeks to decompress and soak in the freedom. Sleep in. Make sure to WRAP everything up at Intel, so you're not being dragged by their games and lack of empathy. Most of us ISPer's have yet to receive the package mentioned during the I'll prepared walk of shame. Deprogram your brain of everything Intel, you were a statistic,a number to them- you were not an employee in their eyes.
Open up the next Chapter of your life with things you will enjoy and get joy out of
I got the ISP and got unemployment benefits.
About the emotional part of it - just try to not get emotional. it wont help you any. intel has always done this, its just much worse and more blantant this time. they are not going after you indiviudally.
I would say you are ready doing the right things to prepare. Don't listen to those who tried to give you advise you didn't ask for and I guess they had never been given a chance to choose VSP.
ISP comes with "unemployment" so you can have more time off. VSP doesn't come with unemployment.
Be prepared to have a feeling of freedom and a sense that you actually have your life back. Say goodbye to high blood pressure, insomnia, and chronic fatigue. After 15 years of Intel and only 3 weeks out I am back to a normal BP and sleeping like a baby. Spent some time riding my bike up and down the beach and feel great. Stop worrying and start enjoying your life while you have it. Also, don't worry about finding another high stress job in another insane asylum. There's a lot of opportunities out here that you are already qualified for and pay just as well without all the BS. Come on in! the water is fine.
Please, DO NOT listen to these losers, do NOT take VSP! You might be the next INTEL CEO in line! ;-)
I would take the VSP over ISP anyway. Don't risk it as others have said you might end up with two months pay instead of almost a yr with VSP
Take the vsp, you may not get as good of a deal later.
if your manager say take VSP , you should take it. It means your manager made you expendable, and you are next to go. You are a goner in any case, unfortunately. HR made it clear next round of ISPs may not have the same package as last one, or not as good as VSP. This is risk you are taking.
Why not take the VSP. If you are no longer wanted?
Please don't feel bad about this. Keep on looking for job. Thats all we can do at this point. Linkedin job search is very good. Please engage in your contacts. Best of luck dear!