After joining Intel family, the company is working on developing a readiness strategy for eliminating large groups of employees in short periods of time. They are using manual procedures L458 and L459 and trying to accomplish so without causing any interruption to the existing operations.
3 replies (most recent on top)
they have only 500 employees...
More fake news by the resident troll.
No way.. Mobileye employees will not get laidoff for awhile. If they were to get laidoff, Intel would need to pay them out as they would fully vest. Particularly since Mobileye is a European company, where labor laws are much more strict, any sort of layoff would mostly trigger a poison pill clause in their RSU/option agreement to fully vest... Sometimes as long as 2 years.
Any sort of layoff that were to happen to pay for this would be done to the remaining 100,000 or so Intel employees not subject to a similar change of control agreement.
Been there ,done that.... And sometimes it's BETTER to get laid off and paid out in full.