Something which will pay all my bills and keep my family going for 6 months at least, without having to depend on Government payments.
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@zae
Global employment laws vary of course but Some of the weeks EU employee's get are statutory redundancies which are covered by their government from their social insurances so not fully out of Intels pocket and likewise to US, what is paid out is just wrote off against corporate tax.
@zae
Global employment laws vary of course but Some of the weeks EU employee's get are statutory redundancies which are covered by their government from their social insurances so not fully out of Intels pocket and likewise to US, what is paid out is just wrote off against corporate tax.
@zae
Global employment laws vary of course but Some of the weeks EU employee's get are statutory redundancies which are covered by their government from their social insurances so not fully out of Intels pocket and likewise to US, what is paid out is just wrote off against corporate tax.
A year of pay plus a year of COBRA
People, the nine weeks on payroll is nothing! (CPM BS plan) Nine weeks is 63 days. They have to give a minimum of 60 days notice if there is going to be a layoff. (which in this industry, usually means, "Go home and you'll get paid for sixty days") Stop quoting legally mandated, "benefits," as benefits, because they aren't. Is this HR trying to rosy up the severance? And although legally mandated, why T.F. do Euro employees get a better package? Don't get me wrong, I am happy for my EU colleagues, but obviously, Intel can afford to do this for US employees as well (especially after CHIPS) and they CHOOSE not to. This is not generous..FF$!
What they're currently offering in the US can be considered 'good' by Intel's standards for the past 20 years: 9 weeks on the payroll, 1.5 weeks per year of service (max 47 weeks), and 12 months of COBRA. Plus payout for any earned sabbatical, plus payout for unused vacation and excess PA time for nonexempts.
In the good ol' days (prior to the dot-com crash of 2000), Intel gave 4 months of redeployment or if you left immediately, 4 months pay in addition to the rest of the severance. I have never seen a package with more than 2 weeks per year of service. Until recently, sabbatical payout was never offered, but they would let you take it (i.e. keep you on the payroll for another 8 weeks) if you were eligible. As far as I know, vacation payout has never been offered for exempt employees. The most COBRA I've ever seen for a large layoff was 18 months cash equivalent (I have seen more for a much smaller cutback). A package with all of that would surpass anything Intel has done before.
Something generous for the U.S. (comparatively speaking) would be:
+ 8 weeks base
+ 2 weeks per year of service
+ Payout of accrued vacation and sabbatical
Cap total weeks paid out at 1 year total (52 weeks).
Then
+ full APB AND Q4 QPB (after all, those leaving in Jan provided service for the full quarter)
+One year of COBRA premiums covered by Intel
+Opt-in for career services or a re-training stipend for technicians and other employees who’s prospects are limited outside of the semi industry.
This is still less than what employees are entitled to in, for example, Germany. But it would be about as much as we could expect as US citizens.
4 weeks pay/year of service (minimum of 2 months months pay regardless of length of service), 12 months health ins coverage. Getting paid for unused vacation/PA/sabbatical. They can throw the job assistance and other cr@p in the bin.