Has anyone been laid off yet? Dose anyone have any information on when layoffs are actually going to happen?
5 replies (most recent on top)
I assume if you stay for the nine weeks, which it seems is designed to satisfy WARN act, the nine weeks will be subtracted from your package? They didnt say in that level of granularity...
How it will happen
11/15 affected people will be officially informed and 1/15 will be the last day.
Affected employees will be moved to a re-deployment pool with a temporary manager few weeks after 11/15.
You will have the choice to either cash out or stay until 1/15 to see if you can get another job inside.
“some BKM’s”
If you stay until 1/15, your severance package will not be added to your 2022 income tax but rather to the 2023. This will help keep your tax bracket lower.
If you stay until 1/15, your cobra benefit will be based on 2023 election rather than 2022. You have until Nov 4 for open enrollment so if you know 100% you will be affected then take the best medical option since Cobra will pay for it for 18 months.
If you stay until 1/15, you will get a smaller packet deal rather than cashing out right away but then again taxes may offset the whole equation if you cash out on 2022 so run your numbers and play it smart.
You may want to max out your 401k contribution until you leave (either right away or 1/15) since that money will be not added into the common income payout plus Intel will match up to 5%(5k) so you will get some extra money there.
If you have an Intel pay phone, you may want to keep that number. Go to IT market place and use the “Porting Out” process so the account is moved under your name. You will take over and paid for it from there on.
If you have met any of the retirement’s milestones (rule 55,75,65) then check out the Encore Volunteer program. Intel will pay you 25k for 1000hrs of volunteer work but the trick is that you have to apply WHILE being an Intel employee. Apply now and you can start in 6 month or later once you leave Intel but at least you are on the system and can decide later on.
If you live in CA or CO, you can cash out up to 8 weeks of vacation if you have been at Intel over 10 years. Your manager will need to validate but most likely your manager will not mess with your beans at this point and will validate.
You can cash out your non used sabbatical (8 or 4 weeks)
Intel continues to struggle with execution, it can’t even fire or layoff people quickly!
Imagine how bad they are when they face something hard!
Line getting Tape out correctly they fail, desperate with about 40K to many people, can’t do that either
Three fiddy take it or leave it
I do know. How much are you willing to pay?