No quarterly bonus for you this month! You just paid for your colleagues isp/vsp package! Enjoy and thanks.
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This would affect the many who were laid off with term date Jun 30 because they were entitled to the bonus... figures
Murthy is employing all his tactics from Qualcomm. I heard from friends that employees above level 3 (sr staff engineer) weren't awarded any bonuses for the last year. Also they chopped their appraisal cycle from twice a year to once. Even the single appraisal wasn't covering 25% of what they used to receive earlier. I wouldn't be surprised if Murthy manages to do all this in Intel !
+1 -abw Everyone cheered when our tw3 "upgrade" got postponed the first time. Before I left, just one loud place to work. Is that the new acronym LPTW? Waste money on upgrades that nobody wants, thanks NT.
I agree @1abw. But I don't think it's BK's doing.... it's the head of CS's project (no need to say his name here). Plus, TW3 started before BK became CEO.
I still can't wrap my head around spending ALL the money TW3 is costing when they are trying to reduce spending. Erm.... I have a way. lol AND a way people would love! Sure beats cutting spending in ways that upset people.
@1kli - at a time when we're supposed to be increasing our efficiency "by getting rid of the dead weight", it seems hypocritical and borderline incompetent to continue TW3. It's so bad that we're laying people off to save money, but we're happy to waste lots of it on things that are unnecessary and well-proven to reduce the efficiency of engineers.
BK needs to step down. We already lost our focus on creating great products, and now we're actively trying to prevent doing so. I feel ashamed.
@miz here (about TW3). I hated it from the moment I saw it 6 or so years ago. Talk about CHEAP. I saw a broken off table leg before we moved onto the floor (so must have broke in transit). It wasn't even metal. It was some weird resin stuff or something. I'm sure the "fabric" (I use that term loosely) is giving off fumes that I just wouldn't care to breath. That and the cheap-ss looking fake wood floors. I wonder if that's the sht from a Lumber Liquidators sale that was throwing off formaldehyde. I just find it hard to believe anyone likes those offices. Steelcase is MUCH better made and will last.
TW3 won't last long, trust me on that (but I don't care because I'm long gone and won't go back, even when my "year" is up. lol) I always said I'd leave when it came my way and I did.
And yeah, I feel sorry for the engineers that just want to hole up in their cubes and concentrate. I wonder what TW3 alone will do to the company?
@fto cre here, write-downs haven't cancelled bonuses in the past. And actually yes, the $1.3B write-down for ACT will be more than covered by PC sales. Remember, our Q2 revenue estimate was $13.5B (10x the write-down). I'm not saying anything definite, with BK you always think he's hit rock bottom right before he starts digging further. But I just don't see this happening. Even with the ACT write-down we should be very profitable, and if we make profit while cancelling bonuses people will get the pitchforks.
@miz Yeah, I wasn't joking about shrinking the cubes, TWWW is the most idiotic thing this company has done in a long time. I'd say more idiotic than turning down Apple's smartphone opportunity in the early 2000's. The tiny cubes stifle engineers with visual and audible noise, and the office space looks like it was purchased at an Ikea parking lot sale. Yet we continue skipping and whistling through it, acting like the emperor's new clothes are the grandest ever made. What happened to reducing costs? It's not like we need more space, we just fired 12% of the company. So why are we spending big bucks to do something that engineers resoundingly hate?
They already are shrinking all the cubes @-cre. I was in a TW3 environment (on a floor I wasn't familiar with) talking to an admin and she said they were compressing. I was like... uhm, to what? You're already compressed.
Then, once I saw a different building's new TW3. It was SO small the backs of their chairs were actually right at the aisleway (if that makes sense). In other words, if it was a really large person, or someone pushing their chair back to stand up, the chair would push out into the aisle. I was like... I need to get OUT OF HERE before it comes my way (and did) :) No way was I sticking around for that sh*t.
Get rid of most of the VP's and ACT will be quickly paid for.
Wouldn't be surprised if it happens.
@cre Why is this BS? Do you think the cost of ISP/VSP/ERP was covered with PC sales?
As much as I believe this is BS, it'd be so fitting if it happened. Damage control will be in full force, they'll have to convert all the bathrooms and shrink the cubes even more to counter people's outrage.
Simple, Intel still owes ISPed a lot of money...it will come out of bonuses
I heard they shot under estimated the Q2 change for ACT.. Expect close to zero. I plan for worst payout in years.. maybe dinner at McDonalds
Quarterly bonuses come out of net income. How much net income is left after $1.2bn write down. Plus shocking PC figures.
Lol. Figures!
Your source (if you aren't a troll)--where/when did he say no bonus? I know back a few years PSO put the breaks on any promotions but never before cut off the bonus. I think the ISP/VSP/ERP thing will be paid for under restructuring and they'll be out of the woods in a year or two. Of course bonus, being dependent on earnings, can vary.