Thread regarding Intel Corp. layoffs

If the bonus is paid in cash as soon as you accept staying, then I thinks it's attractive given the current market. I would take the bonus, stay for 1 year and see how things go. After 1 year, hopefully when the market starts to pick up, and if things are looking even worse, I would start looking for a new job. Since Intel has offered you a bonus under these $hit circumstances, I am safely assuming you are capable and experienced enough to get an offer elsewhere in a year's time. If the bonus is presented as a carrot, i.e., spread over a period of time forcing you to earn it (again!), I would not hesitate to leave. (My guess is Intel will do it as in the latter case since they always think they are smarter while everyone else is a fool!)

To me the main reason to wait at the moment (even without a bonus) is to delay spending my hard earned savings as late as possible (and ideally not to spend any of it) until I find a new job and decide to leave on my own terms. I also want to invest time to acquire new skills to be more attractive to a future employer while still keeping my job at Intel (and of course continuing to deliver above the expected standard, as always). I think this is a fair way to go about transitioning elsewhere over time.

And one more thing: you should absolutely assume you'll be laid off at a later date if you stay now. Whatever emerges from this chaos won't look remotely like the company you were hired into. So don't calculate your interest thinking this is a place you'll build your career.

I'd be wary of that one year commitment. Think of what the next year is going to be like in terms of stress, lack of direction and productivity. I don't know what kind of work you do, but for me that would be a year spent without being able to demonstrate any impact in my field.

That said, it's all a bunch of tradeoffs. If I had a job offer, or even a better market in my field right now, I'd absolutely take the voluntary package. I don't, so I'll stay put for now. But wouldn't want to be locked in to staying when an opportunity arises.

@wkr+1tSkt6zw Why would you tell them you have another job if you wanted the VSP and you werent looking for a raise?

Maybe intel is d-mb enough to give you the VSP still…

Think of the value of Restore and Reward and how it ended up…

Depends on what area you work in and how long you have been an employee?

Yes, I applied for VSP. They offered a promotion to stay. I told them I have a job offer already. Intel countered bumping me from 140k base to 195k. I turned it down. The only thing they care about is keeping the process knowledge and me training people over seas at midnight so they can lay me off later. No thanks.

It's gonna be cr-ppy, and from what I've heard from friends in DCAI, who went through a CPM this past month and lost quite a lot of impactful people, you'll probably get asked to take on tasks to cover for other people in the meantime, without any extra compensation. If you are eligible for the VSP, I'd consider looking elsewhere. The retention bonuses are only worth it if paid out at once at the time you are given the bonus. The last retention bonus from 2021 was paid out with RSUs, split across 3 years, and it didn't start vesting until a year later.

No such thing.

Run and quit toxic company. You will get a better job. I was very senior and prepared for three months and got a great job.

Is your retention bonus a one-time upfront payment, or spread out over a few years? If it's one-time, then it is worth taking the offer and hoping that Intel will keep you employed for at least a year.

If it is distributed over the years, then in my experience it is back-loaded, i.e. the significant chunks come only in the later years. There's a strong possibility that you might not see any of it, seeing how Intel is doing wrt the competition, and the ~18k layoffs for this year.

If the retention bonus is back-loaded I would look elsewhere.

yes, I got a Retention Bonus too.. It was a banana with dignity and respect.

Which group

I got one too. And in the email it does specifically emphasizes to keep it confidential

No retention bonuses, get real

I would first consider what your ISP package payout would be vs. the retention bonus. If Intel is offering you a retention bonus to stay you are likely considered desirable to others in the industry. Intel has done these retention bonuses before when doing CPM so it is not a fairy tale. If you feel you can easily get another position, I would seriously consider taking the ISP, give yourself a short break from working, and then start looking for another position elsewhere. Otherwise take the bonus, but keep an eye out for other outside opportunities and give the retention bonus back if hired elsewhere. The other company may be willing to cover your bonus loss.

you are kidding right?

Nice fairy tale, bruh

Take it but prepare to also leave. If something better comes up give it back and bounce

Run away

hey everybody I'm... so good what do I do

no such thing