Thread regarding Intel Corp. layoffs

If any of you have stock options you are planning on excercising, be very careful you don't trigger the Alternative Minimum Tax.

Sounds exactly like my experience in 1998. 48 years old. Recognized as THE engineer to come to. Booted out so they could move the job to China. Take the ERP, if you don't, they'll boot you out anyway. Not sure how the market is for your expertise. I found out that if you're over 40 no one wants you, unless you have some very specific knowledge. I did contract work for 2 years, before Wipro brought in a bunch of H1B types and offered to do the project for 1/6 the cost AND throw in the computer for free. I wound up teaching English overseas for $1,000 a month for 10 years. But now I'm retired on SS. Not much money, but since I now live in the Philippines, it's enough.

OP here. Thank you everyone, the replies to my post bring tears to my eyes. So many of these threads degenerate into trash talk and trolls and its so nice to read thoughtful opinions and ideas.

Wether we are hourly or salaried, an American citizen or born on another part of this beautiful planet, we all were offered jobs at this once great company, and the fact we were still employed by Intel up until they targeted us with an ISP or VSP or ERP means we were doing our jobs.

I feel deeply for all of you that got an ISP. In some ways you may end up better off than some of us that are currently being offered VSP or ERP. Although the decision was made for you and without warning, you got first crack at the jobs out there. Many of us pondering VSP and ERP and don't take it will find ourselves forced out and with a smaller package.

I'm leaning hard towards taking ERP.

How do we know we are good.

Management has said we are a+ material for this a+ company.

disregard the g at the end of previous post- was a typo

move on to a better stage in your life. Believe me, it's better !! If you are G_od's instrument he has a new plan for you as he had for me.

g

Totally reflects my situation as well. Early 50's, six months shy of ERP eligibility, flawless record, SNE grade 57 in corporate services, considered a mentor/leader and I get the VSP. Yes, jobs are scarce, but some states are much better off. I have one potential offer and another in the interview process, but both mean moving to lower pay. It's a miserable place to be inside my head right now with doubts, fears and second guessing running amok. It's all part of the grande scheme for Murthy/BK; create enough chaos and angst to force people to leave just to make the pain go away.

Hang tough, brothers and sisters. As for me, I'm outta there. Cleaned out my desk and tools this week, burning off floaters next week then.....then....well...something.

I had an interesting little event happen a couple weeks ago. I was having lunch with my teenage son at a Panda Express. The fortune in my cookie read: "It's time to try something new".

If you are good you should find a job. Actually I think techs with experience, think on their feet, honest and work hard are the most valuable. It is so stupid that ISP, VSP and ERP is targeting those most valuable to be kicked to the curb.

My bet is with a year pays, and looking around at the highly skilled tool skills most techs have you'll have a job and with your skills get raises quickly and be where you are in no time.

The more specialized skills of engineers or senior managers that got kicked to the curb is harder. I have 3 kids, some modest savings, three kids to put thru college, house ain't paid off, don't drive a fancy car. Yeah I got a year to find a job, but it is rough out there. My boss as he showed me the door said I really didn't think Level 4 was going to be used, WTF! Did he not see what happened last year, the managers just need to hit the numbers. Was easier to make the statistical distribution than do the right thing. I think senior management is doing the same just cut 12K, let the bodies fall where they will and hope the remaining talent can hold the place togather, LOL.

I had similar worries. Mid 50s kids in college, med school aspirations, sole provider, etc. I discovered when you are retired you have time to do many things yourself that you used to hire out. You have more time to shop wisely. I needed less money than i feared. For a few extra bucks you can find consulting gigs if you want.

Getting isp stung for a year or so and once in a while it still does. First ssl4 in 30 years. Ouch. Wanted to keep contributing into my 60s but not in the cards given the new Intel.

Kids are taking some modest loans. I get to be a better human being by being more attentive to wife, kids, grandkids, parents and friends. Beats dropping dead on the job like several of my colleagues.

Tough decision for the OP. I didn't get a choice. Had I been given one I likely would still be working. I think there is no wrong decision for you. Either way you give up some things and gain other things. Good luck!

To the poster who said his manager said it was insane to make your FAB suffer so much. That is actually a great argument why you SHOULD take the ERP. Who wants to stick around in a brutally stressful environment, with terrible morale all the while not knowing what is going to happen next, if or when you will be booted next without a package. As another poster stated, it's bad for your health! Especially being one of the few remaining experienced techs, who is going to have to do ALL the repairs and PM's.

Rather, take the ERP, get paid to avoid the stress and suffering insanity and regroup. Heck, lets not forget also, if you take ERP you are still eligible for rehire. Let Intel figure out how it's going to move forward with very few experienced people. I know it's a gamble but if you really like Intel that much there is a good chance you could be rehired after taking a year off ... paid! Who knows, maybe they'll even be desperate and give ya a raise! :)

My manager said yesterday that it was insane to make our FAB suffer so much due to huge losses of experience techs. Our night shift lost all ETs (VSPs and ERPs)! He also said about 25 % of ETs left already due to VSP-ERP, so if you are on a fence with your decision, stay. Yes, the packages are good but even so, having a regular paycheck is better. After what they've done to the manufacturing already, more techs cuts will mean FABs closures. Nobody could afford closing the only facilities that still keep making money for the company.

If you're in Oregon, Cascade Microtech is looking for techs and they value experience.

I know you'll do well -- I especially like the consultant angle as I did that once too! Or go to temp agencies like Aerotek.

I'm facing VSP myself with two kids to still put through college....I'm leaning towards taking it, but I'm scared of how long I might be w/o a job and whether what I find will pay enough to cover basic cost-of-living in this expensive part of the country PLUS college....larger-than-expected college loans for measly bachelor degrees may be in my future, and then enlisting for the medical degrees -- both want to be doctors and want nothing to do with being an engineer like me. Go figure...

And if you're faith-based, remember He takes care of even the little birds...we may soon both be stepping out in faith and I've seen so many not regret having done so. We know it's not healthy here (and it's certainly not going to get any better) and we have known that for MANY years. May God bless us both as we do the difficult things.

Take the ERP which pays a whole years of pay. During the next year decidenon what you want to do be ut moving to another company that will offer you similar salary and will value your experience. Intel is a big company and might need your expertise as you can always be replaceable . with your exp I think moving to a smaller company is better. But hey think about it, 1 years pay is pretty darn good.

Don't look back!!

Save yourself the worry. If you decide to retire you can always get another job, even if it doesn't pay as much it can help bridge the gap so to speak. It is a very nice offer.

Also, if what you say is true, you have already contributed a lot of your knowledge to spec updates and BKM's, stop worrying, if someone wants a document for fear of you retiring, tell them they can rehire you as a consultant when the tool breaks and no one knows how to fix it.

One of the hard things for me with the ERP offer was if I had decided to stick around, it would be like working for free for the first year, and with the morale in the dumps, no way! My advice is take the money and run, the writing is on the wall.

Good Luck to you!

Its the same with me: In my mid 50's & 20 years and my first lower than SL3. Always was considered a high performer. Now I face pretty difficult odds with the Intel experience being too Intel specific. And I still have to put kids through college.