I seemed to recall the HR head mentioned in the all-company meeting that Intel won't be offering enhanced retirement package this time around. Does that mean a retirement-eligible employee selected for CPM has to choose either the regular retirement or the severance package, but not both? I guess no one here knows the definitive answer, but I'd like to hear what you think based on your past experiences.
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Given the strong job market (under 4% unemployment) maybe management figured they don't really need to give any premium packages this time around. I'd get cracking on landing a new job asap, we will be in deep recession this time next year.
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.
The most likely scenario is that employees selected for CPM that are also retirement eligible will get the regular retirement benefits (e.g., accelerated stock vesting, SERMA), and they will get the severance package that everyone else gets, which typically includes some weeks of pay per year of service and the cost to cover some fixed period of COBRA.
You get both. They cannot take your retirement benefits away, you get them plus the package. Anyone who has worked here long enough to be eligible for retirement would know that though. So what’s your deal OP.
Just leave and stop being a bean counter like Intel.