Two years ago, I decided to reject another offer and stay because I believed in IDM 2.0 fundamentals. Now, we have not had a raise in almost two years, and bonuses have been very low or suspended in the past quarters. God knows how small (I hope not) it will be for this quarter and the next quarters. Honestly, my paycheck does not keep up with the rising cost of living in the US. Our stock is down as well compared to two years ago. Either management needs to do something, or the 0.05% of talent left will leave. Low salary pushing me to explore other opportunities despite calling Intel "Home" and proud of a decade long career here.
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By their very nature, engineers are risk averse. They don't like change either. So, you find many engineers at Intel that stay there even in the face of overwhelming evidence the IFS strategy is FUBAR, along with weak management, terrible product roadmaps and internal culture of bloat and powerpoint to cover up reality.
Engineers, wake up and smell the coffee. You are brilliant at solving all things chemical, electrical and compute, but you need to work on fixing the fear factor and acquiring b.s. detector skills.
@1qit, but everyone knows that all the best chemical engineers work for HR. There is some kind of strange overlap between advanced STEM degrees and the functions performed by HR. There is some mysterious correlation there.
@1mdd All Intel managers know Ohm's Law and can easily solve most electrical circuit problems using Kirchhoff's laws. Pick a random Intel manager and ask them to do nodal analysis on an AC circuit, and they will easily solve it in 10 seconds on a whiteboard.
Same here, I rejected an offer 1.5+ years ago due to compensation increase in Intel around that time. Now I got stuck here.
@hei LOL
@op as you say that you are here for a decade. see if they can give you a package. take it and leave it.
Intel managers are a bunch of id--ts that don’t even know how to measure an electrical currents and voltages for electronic components. Don’t even ask them about high speed VLSI fabrication. Some of them don’t even have a college degree.
I am your Intel manager. Please schedule 1:1 with me to discuss on Friday.
There is no layoff at Intel. You are a liar. US government gave $50 billions to Intel to create more jobs so why there is lay off here? Unless the US government and Intel CEO are fuccking liars like you. You are motherfucckering liars. Great leadership can lead to success. Bad leadershit turns it upside down like your motherfuccking liars sh-t.
Who wants to work for bad or going down business that laid off their employees? That business is in trouble so please stay away from its products. Don’t buy or doing any sh-t to it. Let the CEO and high paid associates cleaning their business toilet room :)
I am in same boat as OP. I am also starting to think considering the inflation, the level of work is not fully compensated.
I doubt my decision of why I rejoined back.
Manager plays politics and don’t appreciate the work.
If Intel doesnt handle this well, there will be a moment in time when there would be a mass voluntary exodus. So many people sitting waiting for their raises and promos. After a while, these good candidates are just going to leave. While some are leaving today, there will be a moment, where this outflow will just have too much force and will happen all of a sudden.
Op, If you are so concerned, just go. Good luck finding a decent Jon in this economy
Dude, you are obviously a youngster, all big tech companies eventually fail when the MBAs take over.
Kodak, RCA, Westinghouse, Motorola, Digital, ..... the list goes on and on. Intel was the last company I worked for, now crashing.
Grow some and go find your next job before you get fired.
I worked for 40 years, never fired because I always quit before they closed doors.
They really need to cap the separation packages to 5 figures. There is no reason it needs to be any higher for what the package is intended
HR has completed their study. The results are in. It turns out everyone is overpaid - except HR. Executive stock bonuses are also below industry standards.
Leave and don’t look back until you see that mushroom cloud in the rear view.
Don’t worry, they’re spending billions on companies that rely on union labor. They’ll be laughing all the way to the bank while Intel employees get the shaft.
@axp Indeed short to medium term macro-economic conditions will result in massive layoffs in the tech industry. Tmobile and Nokia specifically can be used as the "canary in a coal" mine for the more specialized design and manufacturing of uProcessesors. All of these chip companies that currently pay double what Intel pays will layoff at least half of their workers directly involved in manufacturing and design of silicon products. Unable to find any work (mostly being due to being over qualified and educated,) they will be forced to collect bottles on the side of the road for the meager deposit in order to afford their COBRA insurance.
Stay put, we don't like quitters!!
Nvidia has not had layoffs and is going to crush Intel with ARM based PCs.
Superior economics will attract superior talent. This is the way of the world.
How's that Capitalism going?
Fly, you fool!
Thanks HR
There are layoffs in Tech currently in all large USA companies. Most companies are cutting budget for next year (2024) cause of the high interest rate Federal policies are finally kicking in (due to it's lag effect). I would just be glad at the moment to have a job just for health insurance and enough money to pay the monthly bills and put away some in savings. Don't worry to much about bonus/salary increase/etc. cause next year many tech companies will not give any. They have already started layoffs in qcom, meta, google, ericsson, nokia, att, tmobile, amazon, etc. Just be glad to have a job. Tough times ahead. Save more money.
https://data.tcpalm.com/see-which-companies-announced-mass-layoffs-closings/?query=2023