Love 'em or hate 'me, Intel pays pretty well when total compensation aspect is considered. I suspect most of the "I got 'n' offers for better paying jobs right away" claims are just bluster and exaggeration. 50-somethings can get better employment than Intel and see close to the same pay too, but it takes time and patience -- opportunities like that don't fall like rain. Employers put candidates through a lot more filters these days (multiple phone screens, etc.) so it isn't immediate. Be persistent and put the law of large numbers on your side by applying far and wide, and you will net something. And given the exit package you got, you will likely be financially ahead of the game + refreshed from some well-deserved time off + the envy of many still stuck inside Intel!
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@JBF74La-mur. I'll keep politics out of it as its been the case through several administrations, Dems and Republicans alike, but it is true that seniority is no longer an advantage, it is a liability, in most professions. It's the market, the sociology, and the globalization devaluations, all coming together. I even saw a study recently declaring that states with the oldest populations have the lowest productivity. Whether that's true or not, that's the growing perception, that age is a drag on the economy. Younger and cheaper = more desirable. That would all be fine with me, except at the same time seniors are told their retirement money from SS is an 'entitlement' that gets reduced whenever possible by politicians, and companies have stopped providing decent pensions at the same time. The current career coach I have at LHH says all of her assigned clients are over 50, and she is warning them that most will never see comparable employment/salary again, at least not outside of the Bay Area. I know several people on this forum have said they got better jobs, at higher wages, and less stress right away. Good for them but I don't think that will be the norm. It isn't an accident that Oregon has the highest educated Starbucks baristas.
Honestly, there is no place for a 50+ laid off person to go, even having 30 years experience. In fact, this amount of experience is now considered almost unemployable because AGE overrides it. The only jobs left for these folks are door greeters, call centers, phone support positions, and sales (100 % commission). These are all the growth areas supported by Hillary Clinton. Just barely above poverty level. Unreal.
I heard one of this year's political candidates say that his answer to bolstering Social Security fund was to raise the retirement age to 72. While that sounds good on theory--and I even thought I could pull it off myself--the societal reality is you can't count on your employer allowing you to stay that long. Now if we were still in the pension model of long ago (that PERS and other public government jobs still get), then you could make everyone retire at 55 with a guaranteed income. Absent that, the reality today is companies WANT to cut loose older (higher cost) employees in favor of younger (lower cost) employees. For those who still have time, save save save like the dickens so when your employer cuts you loose, you can survive. Because at your age, you will not be able to get your senior-status income unless you are genius or irreplaceable in your field. Old H/W engineers who've spent decades on x86 are not in that category.
I honestly think this is true and will be the trend going forward. In my experience, old-timers are highly adamant, difficult to manage and unwilling to adapt - They claim to be knowing everything, which most of the times they don't. There should be a new job pattern introduced where the college-goers work for the likes of KFC, Pizza Hut during their studies, then mature on to the enterprises and by the time they reach 45, plan to switch back to some farmer, butcher or door-greeter roles.. I might sound harsh, but this will be the trend going forward.
Unfortunately, Millennials and now Gen Z has created the criteria to vanquish the Silent Generation, Baby Boomers, and Gen X. They honestly believe they can reform society for the better yet it is only getting worse. No respect or learning from wisdom of any of the preceding generations. Sad.