The writing been on the wall for some time now, but most tend to stick around for wait and see and need that extra push. I think what Intel is doing now is pushing employees to leave on their own as they can't pay 40K employees severance packages.
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Exactly. Current CPMs scored big.
40K? It costs a lot more than that for most employees. Does anyone else see the greed here? Fire other people and than pay me more...
They are cutting pay to encourage people to leave, without having to lay them off. It's bad optics to be taking CHIPS act money and laying off US workers at the same time.
Problem is they will lose what little is left of the good performers - the only people who will remain are the ones who are unemployable outside of Intel.
They never fire the under-performers. This is exactly get woke go broke in a nutshell.
You will lose good people this way.
If they had done performance based actions, they would have not had to pay severance.