Why would anyone accept the CPM VSP coming tomorrow? Unless you have an offer in hand is there any reason to take the VSP over waiting 2 more months and get salary and insurance? And spend August and September job searching.
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The next inevitable layoff (or CPM) might have a lesser, or no, package.
What if you don’t get selected for ISP? Then you lost your opportunity to get paid to leave Intel.
I don't think it'll be 15k immediately in November. Some people have offers now and want out, some people will retire. People leave all the time anyway, especially in fabs- techs have pretty high turnover. They might end up actually ISP maybe 8 or 9 k.
And it's going to be from all over- they'll ISP some prod engineers (me with my luck, probably, so I'm prepping for it), some marketing people, some people in CCG, some techs. In Oregon, in Israel, in Ireland, in AZ and NM, in Malaysia, probably in California too. Not sure anyone would be competing for jobs with all of those people at the same time.
The enhanced retirement package you'll get it if you don't take it and then get ISP. So if you're like me at 55 and not really ready to retire. I might as well get another 2.5 months of pay and then get the same package.
I'm not worried about it being end of year since I'll get over a years pay and can easily stretch that into 2 years of living.
If you get released mid November you are almost better off doing just that. Especially if you are looking locally. Rest your brain and remove the Intel toxins from your bloodstream.
I was layed off once before and decided to take the summer/fall off. Then start looking in earnest in November. This was a mistake. But I sure did enjoy the summer and fall. I found work again in March.
Interestingly enough, when commenting on 15k hitting the job market at once - everyone I have talked to is taking the holidays off and starting up a job search come Janurary if they get ISP'd
Folks who want out and have been waiting for this opportunity for some time will take it. They don't want to take the chance they won't be selected for ISP.
My guess is anyone who has been here 10+ years will take the VSP package. It's quite a package and if you can find a job within a month or 2, that's a no brainer in my opinion
You can always just leave if not ISPd anytime you want.
Chances of any G10 and below not being ISPd are low unless you are a great employee or know how you su-k up and are in one of those few revenue generating organizations.
Only cases would be if you want out and don't want to take the chance you might not get ISPed
That makes sense. I would suggest start job search NOW.
If you take the VSP or not, start your job search NOW. That way when it comes to ISP, if (and chances are high unless you are a VP or a su-kup) you get let go, holidays is not a good time for offers and companies hiring.
Because in November there will be 15000+ employees looking for a job. Also end of year is where there is no budget left = no openings.
If you know you gonna get ISP regarding on your OKRs, Performance you should take VSP and immediately start looking for a job.