Thread regarding Intel Corp. layoffs

"Retirement for Ages 60+ would result in one year of accelerated vest for every five full years of service. Retirement under Rule of 75 would result in one additional year of vest regardless of length of service..."

One thing I know about are the Intel retirement rules :)

Nice fairy tale, old geezer OP

@1ejj - The OP did not indicate that he met any Intel retirement criteria. He is not 65, he has not said if he has worked for Intel for 15 or more years or met the rule of 75. You assume too much.

Correction: Post 65, an employee gets 1 year of accelerated RSUs for every 5 years he works at Intel

"RSUs granted this year do not start to vest until next year. Obviously not an Intel employee past or present."

Untrue - clearly you are not an Intel employee. Post 60 an employee gets 1 year of accelerated RSUs for every 5 years he works at Intel - look it up. Whether I retire, quit or get ISPed I will get some accelerated RSUs and had I received RSUs for this year some of them would have qualified for acceleration.

Open door?

I think they will purge the older workers on a yearly basis. If you are eligible for retirement, I think they want to push you out. I think that's the attitude of upper management; not lower management. But upper wins.

If you want an isp then I think you need to cancel retirement and start wfh until they fire you

OP - Obviously you did not satisfy any ERP criteria. I took the ERP after one of my better reviews with EE Level 2 stock. I did meet the rule of 75 with all others that I know being offered.

RSUs granted this year do not start to vest until next year. Obviously not an Intel employee past or present.

I thought people who retire after eligibility get accelerated RSU vesting, which would still make it beneficial to get stock for your last Focal.

It would have been kinda pointless to give you any stocks, as they will go bye-bye the day your retirement starts.

Addressing a couple questions: No I did not get offered VSP, ERP or given an ISP last year. Apparently I was still a good employee back then.

I agree that it is reasonable to give me less or no stock in my final year and had suggested that strategy to my manager in my Focal prep meeting. He rejected that strategy and said he would never do such a thing. Might be why he justified the SL5 based on performance.

As to extra stuff he wanted me to do - no those were never defined. He was a new manager to me and while my last manager and I engaged about my retirement for the 2 previous years, this manager chose to "pretend" that I was gonna remain at Intel and should therefore take on new tasks and trainings. At least that was the rationalization.

One final humorous moment. After the review was over he said, "I wanna give you a retirement party. When and where should we do it?" I cracked up. Never a dull moment at Intel. I will not be missing that aspect of the company.

Nice fairy tale old man.

"I hadn't taken on enough extra duties over the last 6 months."

...and you were, I'm sure, counseled by your manager on which extra duties that he or she hoped (expected) that you would take on...

Who gives a damn anyway. This company is toast.

Stock share is supposed to be a measure of future performance, so this is quite fitting. Glad you got less/no stock so other people who are staying longer could have more.

Funny, why didn't you get vsp last year and take it?

According to management, there's no layoff this year. But things changes so fast, I don't think anyone can be sure what to expect. As long as stock price is stable, I would think management will keep status quo. But if for whatever reasons stock drops then I think management will be pressured to chop!