Anyone who can't afford their mortgage? Can't pay child support/alimony? Had to tap into retirement? Had to sell their car/house? Declared bankruptcy? Living on the streets?
29 replies (most recent on top)
Xzy -- if you think a perfect world equates to Socialism then you are a major idiot who probably deserved your fate. Your advice to save is sound, but under Socialism, there is no such thing as personal savings since everything you save belongs to the State.
Giving people a "Satisfactory" review alone shows Intel scammed it's workforce and government. The layoff in 2015 was illegal by all definition of the law. Why? Intel never gave anyone notice they were "low performers". Several people who were laid off were offered "pay raises or stocks" as an option. If you choice pay raise, you got the boot. Managers were not informed that giving lower stocks meant laying off employees. Everything about the SSL layoffs appears wrong. Anyone who argues otherwise is a dumb@$$ libtard.
@ICSxXsC-rjc as to reviews, point of view of bosses and your own can be debatable. I think in this situation last year's 2/3 could argue has merit as if you are 2/3 years lower stock a conversation should have happened and you made fixes and you failed at it. Can also argue that when times get tough anyone who is IR should be cut makes sense also. But IMHO to cut people with just a single L4 stock where there is or might be unique situations is a very weak way to cull the herd. Yes they put a appeal process in and I think some were reversed and many weren't. The odd thing is that they didn't even come close to reaching numbers with this, so you could argue would have been much more fair and humane to do the whole ERP/VSP and including the L4.
I was a multi decade, walked with ONE L4, given 5" to pack up my office. I won't bore you with what I did for the company, is this any way to treat people who gave so much to the company. Everyone around saw this, you think a CEO, senior management should care, and feel comfortable to speak and do a round table about this with the CEO? Says a lot about the leadership at the moment, the turmoil, but in these kind of tough times it takes a special leadership to both turn around the company, and do with with integrity and than if successful can look people they let go, kept and still feel good. I can honestly say I don't blame my bosses, or my bosses boss, but the MCM and BK, that is a whole different matter as this was theirs and they made the choices they did. For them sadly they likely don't care, nor will never impact their lives. I think Intel is on a terrible path with no meaningful traction to fix the things that need fix... but that is just my personal opinion. Having watched this industry for 20+ years, I am not optimistic at all for Intel current state nor their strategy.
Good luck @tqv. Back in the day they advised to save 2-6 months salary for an emergency, now it's more like 2yrs, unfortunately. At least you had a years worth saved!!! Very smart.
Have you considered moving where the jobs are in your expertise?
I saved up enough to support family/mortgage for another year. But with the dismal job market in Oregon, not sure if one year reserve will be enough.
Re the gentleman whose g/f left after the terminations - sympathies certainly and fwiw - my g/fs' reaction has been the exact opposite - let's just say that Donald Trump's missives have been nothing compared
to what she's had to say about BK and co. You are right -- BK has no idea of the justified anger and scorn that he alone created along with his pals, the board and MR and co. But it goes beyond this, likely
employment legislation could have been violated and there is recourse for pain and suffering in the courts as well !
Not mine. I had a long term plan (paid off house early, didn't have (expensive) kids), saved enough), paid cash for my last (brand new) car recently.
Everyone needs a long term "worst case scenario" plan. That and not overextend yourself financially and to live below your means. Too late advice for some but maybe not too late for others.
I am 49 and mistakenly thought that Intel will be my last job before retirement. Boy was I wrong. Booted out and now with very few job prospects.
As an Intel manager for 24 years, I can honestly tell you that no employee ever agrees when they receive a negative review. Every employee thinks they are above average, that they contribute more than others, that it should be others when layoff selections are made. I guess that is just human nature.
Well said, @pyx. I wish you and your family much luck and hope you land the job of your dreams.
Of course cuts are "irrational" if it affects you. I do not know of any employee who admits that their firing/layoff was justified.
Trolls and B S post aside the impact to me was huge and life changing.
ISPd and totally surprised! Worked at Intel for a long time! Can't say how many evenings, holidays and vacations I gave to the company. Delayed my sabbatical two years to get a technology and transfer done. They did pay me well and for the most part they were fair till the end. Boy they asked a lot and I gave as much as they asked.
One level 4 with above average raise this year, three promos and doing a job I loved and working what I thought was a balanced life with totally commitment to the company 60 to 70 hours a week. Can't think of a weekend or vacation where I didn't work. Totally surprised to be kicked to the curb as my group is overworked and still hiring and short and in the critical path for everything that is core to the company.
The way they choose to do the layoff was totally lazy and wrong, says a lot about the leadership at the top to do it this way and the rest for accepting it.
I am grateful for the generous package, I need it. Three kids two in college and one in HS. I ain't rich, house ain't paid off, drive used cars. I need a job and sadly there ain't one here for me.
Will I go bankrupt, no, but life forever changed! Family disrupted and plans are now all different.
Now if the cuts and strategy were rational I probably could rationalize the action. But when I reflect on the cuts, their impact to those cut, the morale inside and direction set, so much is wrong with the company and most sad this little action isn't going to fix it.
I will move, be wiser, but honestly worry for my many friend still at Intel as it is dire times and this action doesn't correct any of the core issues
Took a pay cut 8 years ago to join Intel, thinking that it was a dream job/company to work for. Passed up many good job opportunities past few years thinking I was on track for promotion based on manager's feedback. Manager left Intel. New manager did not see my value and gave me ISP. Cannot get any interviews since companies believe I was let go based on performance issues. F you, Intel.
Sold my house in Calif. and moved my family 12 years ago after accepting an Intel job in Oregon. Got ISP but do not have much savings. House now in foreclosure. Wife, 3 kids getting stressed out. Thanks, Intel.
Every now and then I recall how quickly things can change. I had just come back from sabbatical and gotten a solid Focal (or at least I thought so) where I was praised and called the rock and foundation for the team. I got an above-average increase, even. I was feeling really happy and grateful. Then, less than a month later, two colleagues in cubes around me got walked out on ISPs, three more got ERP and took it, and I get the VSP. I left supposedly 'voluntarily' but I felt the walls closing in. My manager claims he did not know that ACT was coming or he would have done focal differently, but also feels upper management changed the goal posts to meet their HC cut requirement. So he felt boxed in too.
I had been an Intel engineer for 10 years. Intel hired me when nobody else would. Got ISP but still do not have valuable skills needed in this job environment. Intel experience did not get me anything except a few courtesy phone interviews. FML.
@ICSxXsC-bve. This forum would be the last place I'd go to look for a new job. But I do agree it has less and less useful information as time goes on. I do still get some nuggets of info about late severance payments, what to do about xyz under ERP, timelines for the process, etc. But the trolls are getting to be laughable. I've posted two or three very simple questions and right out of the gate am called all kinds of unrepeatable anatomical names.
i am happy as i predicted it much before based on my manager activities
So no worries
I wish the company should do good. But my friends are leaving with the fear in mind.
Many are not in confidence and keep calling me frequently
No issues at all.
Its like Titanic :-)
Left with safety jackets + New Job
I live in a cardboard box under an overpass, stand at the instersection with a sign begging for money which buys me one meal a day, but it could be worse, I could still be working for Intel.
Good luck to anyone who's struggling! Keep your heads up and be confident in yourselves.
I have seen posts saying people got millions and that they are leading a relaxed life. Have often wondered if those were real or people just pretending to be better off. Honestly, to me losing the job was a disaster in all dimensions - In the personal front, my girlfriend chose to leave me - who wants a guy without a job when he is also in the aging bracket? I have been on the lookout for another job but haven't been able to find any - I am in OR BTW. I got a decent amount as severance, but have kept it aside to pay for the mortgage that I don't want to miss at any cost. The reason I visit this forum frequently is to see if anyone is discussing about job opportunities, but looks like people are here with a different purpose and are discussing all bullshit like H1B taking away jobs, Trump coming for rescue, advice to Aicha and BK, badmouthing about Murthy, etc. Honestly, these people have no direct role in your losing the job.. They are just passing the message. Grow up folks and do help your peers who are in need of support. Today, you might laugh at my situation, but make sure this doesn't happen with you. And finally, I echo the message Save, Save, Save money when you have it.. Don't max out your credit cards and don't live paycheck-to-paycheck
yeah, I have to pay approximately 20 bucks more on fruits for me and my family because there is no longer any free fruits. Too bad.
Also it is estimated that my family pays 10 bucks more on the monthly utility fee for electricity as there is no longer any free AC in the office building.
Yep, difficult. My kids now are taking loans for school. No more German luxury cars. Ford and Chevy. That said, my health is better and overall my family and friends are relieved that I won't kill myself trying to ride the intel train. I miss most of the good people i used to work with. I miss the challenge of solving hard technical problems. Dont miss at all the political drama and all the time and emotion i had to expend on that. Clearly that was not my calling cause the bus hit and I barely saw it coming. Didn't realize in the new intel you can't trust your boss when she says don't worry to your face. Agree with the post below. Save save save.
Then if the bus comes late in life you have options. Forgo the new bmw and retire, or seek another high stress job if that suits you.
Intel underestimated the competition at the same time not understanding how to reinvent itself but only Microsoft had the right strategy to remain a key player perhaps because they didn't get lazy in their thinking.
Hard cuts are always--well, hard. In the past, when Intel still was a 'family', you could surely get redeployed but you could eventually find a new place and maybe even a better place. It is unfortunate for my ISP colleagues (and the not-so-really-voluntary VSPs) that Intel has no place for some very fine people anymore. I think it is bad management and failure to adjust to the market, and the average employee is the sacrifice. As far as I can see, all the leaders are still in place. They should, however, stop with any GPTW facade.
To trolls: before you start responding to this post, don't bother insulting those of us affected with your Bhwaaahaaahaaa posts telling us to go get jobs. Who are you anyway? Certainly not anyone with a heart.
I'm affected. I have dependents, am the only breadwinner, have mortgages and loans, and have no spouse/partner bringing in income. I will probably lose my house though not sure rent would be any cheaper. I will probably tap out my 401k to survive. I am old so will not have an easy time finding new employment of comparable compensation, so am ready to just try to retire but it is too early. My advice to everyone is to save, save, save whilst you are employed in case this happens to you, especially as you get older. In a perfect world, in a socialist world, the well-being of employees and families would be a consideration but I totally understand why that won't happen here. Imho, Intel once again overhired and now has to undergo painful, family-disrupting cuts. It would have been better and kinder to not hire up so much if they can't sustain it. The go from one failed initiative to another.
Are you one of them? What is your point? Really boring!