Last night, my manager just pulled in our 1:1 from Friday to later today. My fear level just spiked. I’m thinking it will be waves. First level managers fire their teams, then second level managers fire first level managers, etc. All to be completed by US Thursday 1pm Santa Clara time. Timber!
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probably pulled in because PG's layoff announcement was pulled in from Nov 1st to this Thurs afternoon (10/27) after the earnings release. This will probably be the formal layoff announcement and perhaps the extent of it will be disclosed to employees but individial termination notifications probably wont occur into the next couple weeks. As stated before from "inside information" -- cuts will be 'deep' and 'brutal'. Many posts on here from Intel employees are reflecting too much complacency and expecting nice exit 'packages' like VSP's. I'd advise this: "Plan for the worst, and hope for the best".
so what was it about?
I had an insights meeting this week. Layoffs did not even come up. If you’re going to be laid off, worrying won’t change anything. It’s best to save the worrying until it happens, or use that energy to find a job if it is indeed that inevitable. 10-20% layoffs means 90-80% will be unaffected. Of course, this is not equal across all groups.
Mine was pulled in early as well. It’s b/c OKRs are due Friday/Monday and they want to review insights and okrs
I have mine tomorrow, got rescheduled from next week. When asked manager is like I have some family stuff going. So let’s see!
They did the same to me during ACT. Set up 1:1 and when I asked what that was about, they were not available. Sorry guys, this brings bad memory but at the end You will be much happier down the road after leaving Inhell. This is a terrible company. Who brings in new employee to work on a week when they are walking people off campus. Leave and never look back.
Regarding "They keep bringing in RCG's and will probably be letting go mostly experience engineers over 55 YO that are ready for retirement just to deny them their benefits."
For US employees, there are virtually no retirement benefits. SERMA was frozen in 2020. The Intel Minimum Pension Plan is worthless unless you were d-mb enough to never contribute to SERP/401(k).
On the other hand, employees that are terminated before retirement won't be able to access EPP as a retiree and purchase previous-generation CPUs and SSDs at a deep discount, or various other products priced higher than non-employees can buy them for online.
What groups
🚨 Layoffs imminent 🚨
Same. 1:1 request from my manager for Thursday. Probably harder for him than me, going to make it easy for him!
Regarding "Did you ask your manager why it was pulled in?"
If it was pulled in for the manager to notify the employee they were laid off, what are the chances that the manager would admit it? I think fairly low. They are more likely to either dodge the question or lie.
Managers tend to make themselves unavailable in the short time between when they are notified about affected employees and when they have to notify the affected employees.
OP -- I hope you survive this layoff. Keep open mind and stay tough. You will find better opportunities outside. I left intel in late 2012 and joined Apple and it was my best decision. Lot of other companies are hiring with better culture.
They keep bringing in RCG's and will probably be letting go mostly experience engineers over 55 YO that are ready for retirement just to deny them their benefits. Sleezy company. Same thing happened back in 2015/16.
Like @qnn wrote do yourself a favor and get a new job like ASAP. I get notification on daily basis on new opportunities. Time to polish that resume, and honestly you are way too late already. The writing has been on the wall for a while now. The smart ones left after 2016 fiasco. It's good to figure out this company now rather than spend 18 years like me to find out how easily they can eliminate your job.
Worrying is normal. There is zero trust in the clown management team. The fact that they are making decisions that impact our lives, our livelihoods is not only worrisome but infuriating.
I am in later stages in my career, still not immune to worrying. But my suggestion for employees who just started or still have 10-20 years of working years is the following. The job market is not as tight as 6 months ago but still very good. Intel is not going to get better. After this, the morale is going to go down. Low morale —> bad execution. Bad execution —> more layoffs. You get the story.
Pat has proved that he is just one of those bozos who got very very lucky in his career. His performance so far (his actions, his management team, results, etc) is below par. Really bad. Look at the management team. I feel even for diversity sake, he could have picked better, more relevant people. Just a complete D team. No accountability. Please find a better job, better company. Don’t waste your time at intel.
I am not in SMG but for goodness sake, under Michelle, SMG went through reorg after reorg. Even in her last year, she said she hired BCG to help with restructuring. Now, under the new leader, another restructuring. It must be crazy. I know sales is bloated but how many years do you need to restructure to find the right model to serve a handful or OEMs and a handful of hyperscalers. Total Clown show.
Please please look for better opportunities.
This is fine
Best to do a reality check and not let your imagination run wild.
Did you ask your manager why it was pulled in ?