High demand for PC, Servers, and IoT for 2017 has caught Intel by surprise and will conduct massive hiring worldwide. ERP and VSP former employees should check their mail or phones for possible hiring managers making offers to return back to the tech giant. Sorry haters and fear mongers, but you keep losing everyday.
48 replies (most recent on top)
How in the h3ll do you burn all the COBRA when it's an ongoing thing @1msn???
I think you must have meant you already burned through the salary package. Too bad. I didn't. I still have all mine and more. LOL
Nice troll post
This rumour that " Intel's gonna take back VSP is definitely false.
In fact, things are just the opposite , Intel is downsizing like crazy inn short term and targeting 60k by next two years.
... and you forgot that they will lay off whole NDG now, but as a demand for Intel IOT and wearables is growing, soon they will want all these folks back. And yes, it makes a perfect sense to pay VSP and then after couple of month invite all these people back.
Inviting fired people to come back is nice fairy tale but it's not gonna happen - even if there is a huge demand (and there is not) they would rather hire rookies who will work for less then people who already climbed thorugh corporate ladder of benefits.
Hey GF is really hiring, better brush up on interview and be ready as the Titanic continues to take water, you got a lifeboat?
http://www.oregonlive.com/silicon-forest/index.ssf/2016/11/globalfoundries_seeks_to_capit.html
Intel is going to make more cuts. X86 volume is falling not growing!
Just not falling as fast as predicted, when has that been good news?
Things are so bad there is he empty bazillion dollar shell in AZ!
For reference both Samsung and TSMC have fans far larger than that shell and they are full as ARM volume continued to grow.
they would have to give me another payout twice as big to come back and I already burned all the COBRA. Two flying pigs would have to hit mid air for any of this to happen.
This is a false rumor so quit speculating about what is going to happen to your COBRA. And, if true, you'd have to pay back your payout (how much of that do you have left?) and then be left exposed to another ACT round. Btw, I checked and even though I now get Medicare, Intel will continue to give me COBRA. So why should I want to give that back?
I nevber want to go back at least to same team
Enjoying in new company with work life balance and value for life
Yeh right!!
What Kind of idiot what go back? Take your knowledge to the competition.
TROLL. Intel will lay off over 30,000 in 2017.
Again, it's not if you're offered a position... it's if you're offered a position and turn down the medical because your COBRA is better.
-1jfw
Ahhh, thanks so much, that answers my question completely.
@1fzd all because healthcare dollars are in corporate pretax funny money.
here is my old post from https://www.thelayoff.com/t/JBe1y4H#muf, WITH the link to the IRS law:
Once you become eligible for other group health coverage or Medicare, you're no longer eligible for the COBRA premium subsidy, regardless of whether you actually enroll in the other group health coverage or Medicare.
An individual who fails to notify the health plan providing COBRA coverage and continues to receive the COBRA premium subsidy after they are eligible for other group health coverage or Medicare may be subject to a penalty under IRC § 6720C. This penalty is equal to 110% of the subsidy provided on the individual’s behalf after they became eligible for the other coverage or Medicare.
Full page here: https://www.irs.gov/uac/cobra-questions-and-answers-for-employees-and-former-employees
Also note to anyone that might stumble on this page and be eligible for retirement under the Rule of 55 .... That rule is the ONLY rule where you do NOT get accelerated RSU's. You get all other retirement benefits. Accelerated RSUs is the only perk you miss out on for the Rule of 55.
-lfg
==============================
& -1qnn & -1xuu
Again, it's not if you're offered a position... it's if you're offered a position and turn down the medical because your COBRA is better.
-1jfw
I agree -1dzc about what sounds logical, I just seem to remember from that other thread that even just being "offered" a position with benefits was enough to negate COBRA, that is what got me questioning the actual law.
And no, no way would I expect that they would want you to pay back any of the package, even if prorated. If one did wish to return, I agree that I would think it would be go back to your old benefit plan, COBRA goes away and no need to repay anything.
I do wonder though if people with experience and or H1B's might actually start being in demand, interesting to contemplate. I mean the big tech companies are literally begging for more H1B's which might be very unlikely to happen with the new administration. Interesting....
Government industrial healthcare complex. Let's see Donald fix it.
offers are negotiable, that's the point. For example, if they wanted me to come back, a good starting offer might be double my package and double my pay on top of what I've already collected. This CORBA business is just a F'ed up artifact of the healthcare complex.
Correct @1vsd.
-1jfw
I don't believe it would be either @1dza. I really doubt they could take back what they gave you just because you don't want to take them up on their offer to go back. I think they'd have huge legal issues if they did that. That just doesn't seem plausible to me. Maybe someone else knows something I don't but it's not sounding right to me. I sure don't know all the employment laws.
Ditto for having to pay back your healthcare if you turned them down. That just doesn't seem possible to me. IF it were to happen (get an offer to return), I'd be surprised if your options weren't: 1) things remain as they are (you still not working there and keeping your COBRAm etc,, and 2) accept the offer, COBRA goes away and you go back to whatever benefits you had before the package. Note that would be for this year only as you can do what you want for 2017 during Open Enrollment.
-1jfw
@1dza no way a job offer has any impact unless you take the job.
yeah, no way it is true. Is true they are off the hook for COBRA once you get another job with heathcare no matter who is paying for the COBRA. Another reason to take a nice long break while the clock runs out.
If this were true, (Intel wanting to bring folks back), I'm not really sure what I would do at this point. However, for the sake of the discussion and wanting to know my options, let me propose a hypothetical in an attempt to better understand.
Let's assume "Joe" took the ERP earlier this year and therefore has the free medical for all of 2017. Joe wasn't necessarily ready to retire though, perhaps he enrolled in school for 2017, or maybe just wanted to vacation and travel while he enjoys his free healthcare without working. Now Intel comes along and sends him a job offer in the mail, (I know unlikely, but just for the sake of argument), benefits and all. Joe also doesn't want to violate the law. Would he at that point have to either a) take the job or b) start paying his own healthcare?
I kinda doubt it's true and that a troll might be wetting himself from laughing at us so hard but it's an interesting topic to discuss. :)
If this rumor is true I'd have a lawyer read it over to make sure Intel can't make you pay back the package they gave you for returning before 1 year is over. You're supposed to wait 1 year or pay it back. Be careful there if this is true and you want back in.
-1jfw
@1nxg. No, there wouldn't be a penalty then because Intel would simply change you over from paid COBRA, to whatever medical plan you were in before. You wouldn't be telling them... 'No, I want to keep my COBRA' in that circumstance.
Also note that Open Enrollment is still open so if they WERE to hire folks back, you don't have to keep what you had this year in 2017. You can change to whatever plan that's offered during Open Enrollment time.
-1jfw
This isn't correct (or maybe it is but I'd like to clear up where someone could be confused due to your wording) @ if someone offers you a job, even if you don't accept it, you have to report and Intel is no longer obligated to provide the free healthcare.
If someone offers you a job that had medical, you can't turn down the medical and remain on COBRA. That's where the IRS can penalize you 110% of what Intel paid. Granted, it's if you get caught but I don't mess around when it comes to the IRS. lol
Here's my post on the subject. I'm -lfg.
https://www.thelayoff.com/t/JBe1y4H#muf
tying healthcare to w2 pretax dollars is just one of the many ways it's FU.
Why are employers even involved with this anyway?
1jfw, What I am asking is, what if Intel just sends you a job offer in the mail? Would that mean you had to accept it or face the 110% penalty?
@KqctiWF-1ihp I would also.. easy money..
I'm the poster of that information @1xtl, and it's not 10% penalty... it's 110%. For me I think that would cost ~$1100 per month in penalties. But that's if the IRS catches you. Personally, I wouldn't risk it and I for DANG sure do NOT want the IRS to ever be looking in my direction so I'm staying straight. You're not allowed to turn it down (to take the better of the 2 which Intel is better I'm thinking, I just know mine doesn't cost me 1 penny so definitely is better than anyone else).
Oh, scary thought as I was rereading my post. I read long ago on another thread that if someone offers you a job, even if you don't accept it, you have to report and Intel is no longer obligated to provide the free healthcare. In fact, there was mention of a penalty of 10%, (I don't know how that works).
Paranoia has me thinking, what if it's just a scam to get out of providing the free healthcare for the year? Offer ya a cruddy job and then say, hey.... you were offered a position. Could this happen even if unsolicited?
I suppose it's plausible, @1obl, after reading your rationale. Still not going to take them up on it, even if they beg me. I left that toxic environment for a reason, and glad I did.
-1qnn
Yeah, right, I'll believe it when I see it. Not going to change my mind though.... i wanted out and got out. Not going back, ever.
So what are you proposing they'll do, OP? Not make the ERP & VSP folks return our packages? Uh huh, right....
This is a rather interesting post to me, if nothing else than for the fun of contemplation. First glance I was totally dismissive of it, another troll rumor, which I still believe to be the case.
However, with the recent Trump election, there are some factors which could lend at least a smidgen of plausibility. Please hear me out and if bored, jump into the debate, ha ha.
First, I haven't kept in contact with old colleagues too much but I did hear several months back that they were hurting for people, if they are seeing an upward trend in demand it's possible they might wish to hire soon, or maybe they are just running bare bones in hard times.
I do know it is excessively expensive to recruit and hire new people. If they were to make offers to the ERP and VSPers who are already vetted and have proven to be able to survive in their enviornment they could save a ton right there. Also, they are still probably regretting having to provide free healthcare for all the ERPers for 2017, though not a big chunk they'd probably prefer to get some work out of them, or at least payroll deductions for a portion.
Finally, hearing Jeff Sessions has accepted the Attorney General post, they are probably fearing that H1B's might be hard to come by in the future as he will undoubtedly enforce immigration laws. I've heard all the big tech companies already pen'd a letter to President Elect Trump more or less begging for more H1B's. My point here being, might people already trained in the industry or who already have an H1B suddenly become a very hot commodity? Especially as Trump has threatend to put a tariff on companies who move overseas? Heck, even Apple is doing some analysis on how much it would cost to actually manufacture iphones here in the states, (approx twice the cost it's rumored).
So, that's my argument for plausibility. The big techs might be going on a tear to get as many already trained people as they can... Thoughts?
The problem is the acceptance rate of new RCG hires is terrible as the word is out what a $hitty place it is to work.
So it has been discussed but the clown and senior managers are to arrogant and will continue the Titanic on its course, full speed ahead to ruin!
I send me current Intel colleagues to this site and say that most info posted here is very accurate. I also post lies here myself and watch them panic. Hopefully, this will get most of them to quit Intel and save me from getting cut next year.
@xrp- Nice fairy tale Emoji. You left the part out where you were ISP back in April.
I double dog dare 'em!