I looked at their severance package and I wanted to weep. Those who have been with the company for more than 15 years get to walk away with nearly a full year's salary. Imagine being awarded for your years of service like that. Even when being laid off, I would feel appreciated.
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Severance packages are, of course, geo specific.
So the answer is, it depends.
Read some of the articles about Googles layoffs. They are more brutal than Intel. People got an email and were locked out of their accounts in the middle of the night (around 3am in some posts). The people let go included high performers and recently promoted.
It is suspicious how Intel is handling this. I think things could be far worse than management is leading on. In the nearly 3 months since they announced reductions were coming and wrote off $607 million for severance packages they still won't comment on final numbers.
To me it shows, microsoft and google were behind intel for insights into market conditions. They announced layoffs and next day they let them go. Intel took time for layoffs (announced 3 months back) which is like give additional months of salary till January.
Isn’t intel better at predictions and treatment?
Whoever said they are getting "nearly a full year" for 17 years at Intel is lying. The severance package is well-known. You get 1.5 weeks per full year of service and it's capped at 47 weeks. 17 years is 25.5 weeks. If you add in the 9 weeks of redeployment (which you don't get if you leave before the 9 weeks is up), then that would take you to 34.5 weeks which is only 66% of a year. You can't count vacation and sabbatical payout because they are separate in both Intel's and Google's severance packages.
Google is rich enough to layoff with great benefits, Shintel isn’t.
difference between working at a good tech company and a sh---y tech company (Intel).
I’m at 17 years and when I calculated mine it was nearly a full year, same as google (according to OP).