What cheap severance for a company with such riches, GPTW
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I hear MVE may be on the chopping block as well.
Entire IT teams gone, every region. Latest is more by mid Feb. more coming.
IT is outsourcing more things, as there are vendors who do generic IT things cheaper and faster now. This makes sense if they can manage to do it without making a big mess. Don't hold your breath.
EEOC complaints are an option of you experience discrimination, based on age, gender or most anything else (e.g. manager retaliation). Employees that file these complaints will win because Intel will settle the complaint versus risk a larger court-ordered settlement. Do you research and make sure to consult with an attorney and file your complaint in the designated time frame. Intel implements the employee terminations strategically so most employees with miss the complaint filing window while they look for new jobs elsewhere.
IT is not a safe haven.. It is a type of hell for folks that drank the koolaid telling us that Intel needs IT. The reality is that it does, but it does not need the centralized IT as was in the 90's. The reality is IT is a great job, but you need to become either part of a company that makes money from IT related services, or to be embedded with a group that provide revenue for Intel. Central IT is like an old town on Route 66 that was bypassed by the interstate. IT is over!
Just to chime in (again) on this never-ending subject:
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More layoffs, with IT in the crosshairs again. Do you feel sorry for people, laugh sarcastically or simply shrug and say, "What else is new?"
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Yeah, call it what you want, but Intel is effectively firing people. The termination letters basically say you're being let go for performance or job elimination reasons, with no expectations of being rehired. And oh, let's not forget about the "no rehire" clause some of us had to agree to in order to get our severance pay.
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Yep. Again dropping people right before bonus time. Classy, classy, classy.
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BTW: From Bloomberg news: BK's annual salary in 2016 was $1.25 million, plus $3.7 million in bonuses, for a base cash compensation of almost $5 million. Add in his $11.7 million in stock options, and he's a $19 million man. Up from a mere $14.6 million in 2015, and way up his $9.6 million when he became CEO in 2013. God knows what that figure will be when they tally the numbers for 2017 in April.
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For those keeping score, BK's total compensation rose 98 percent from 2013 to 2016. In other words: In 2016 he made $1.583 million per month, or almost $365,400 per week, or $73,000 a day, or about $9,135 per hour. (How much of your breakfast have you managed to hold in after reading this?)
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Meanwhile, at least 16,000 jobs have been cut from 2015 to 2018. Anybody see anything wrong here?
First, BK is firing people two weeks before their April options vest. Second, this is age discrimination, they are firing people with computer science skills WHILE hiring RECENT YOUNG college graduates. BK is a scumbag, Andy Grove would never have done this. This is all about hiring the old, and hiring the young to save money. Meanwhile BK sold all available stock in a sleazy way, having insider information on the impact of Meltdown that wasn't yet generally comprehended by the public. I cannot understand how Intel's BOD is ok with a CEO who dumps all his stock in the midst of his 'transformation strategy' that purportedly will grow the company. BK is unethical. Anyone who defends his behavior is shortsighted, and needs to think more broadly about the great company that Intel once was, vs defending a leader who is ok with accepting double digit raises while firing employees and dumping his equity stake of the company who's strategy he leads.
Andy Bryant, if you are reading this, you need to take action, or leave.
So they realized that the "stealthy termination" approach works, as it allows the management-protected-but-otherwise-useless fanboys to stay aggressively in denial and sew confusion across the rank and file -- and nothing tangible reaches the press.
And they realized the perp-walk strategy was too sleazy for even management to stomach.
Sounds sad but also sounds true -- will pray for those impacted and their families.
Severance is not bad compared to other companies who give standard 2-4 weeks with no medical benefits beyond the month of termination. The hardest part is having to explain to company I will interview at why I stayed at Intel for 20 years.
@RjYq2C3-3pec Just because one person in IT has not heard anything, does not make it fake news. LOL Just be thankful, it means they have not been affected. FLM's dont even know yet!!
This is fake news. Just talked to a friend in iT and he even doesn't know. Fake news
From what i understand, no one is being walked out same day. People are given a 9 week "transition" period; effective date of March 31st. After 18 years. i received my walking papers Friday morning. One week pay per year of service + a small amount for medical. Very disappointing but not really a surprise.
Are people being walked out same day or still have their jobs until 3/31?
Managers are being asked to go back to being an individual contributor. Senior level IC's at the top of pay band were ax. Many people I know who were there for 20 years + were termed.
Is it 1k pink slip between Oregon, AZ and Folsom or worldwide?
K
I’m on sabbatical and away from US. I’m a scrum master/ project manager. Does anyone know if these roles were eliminated ?
I heard 1000 IT employees were offered severance packages: one week pay per one year of service. Some health insurance money, too. Severance based on skills assessments, time in title, and time in group. Also heard they were all done with this Thursday and Friday (ww03). Also hearing unsubstantiated rumors about managers either leaving or becoming ICs. Anybody else?
Has anyone been affected in hillsboro Oregon IT? Does anyone know how many are being laid off? It sounds like another rumor.
BK warned everyone that there would be more firings and the separation packages would not be as good as ACT 2016. By the way, the term "Layoff" is being completely misused. No one at Intel is receiving a layoff; they are being fired. A "layoff" is a temporary suspension of employment or a period of time when employees are furloughed with the expectation that the same worked will be brought back once production picks back up. INTEL IS FIRING PEOPLE.
@1kic -nope not all the posts are fake....IT is laying off. i quit in 2017, same job somewhere else, getting some contacts from some old co-workers, wanting to see if i have leads for spots where i am at.
More fake news from trolls that do not work at Intel.
Massive layoff in Intel IT India.
Whole bunch of sheer talent laid to waste.
Deadline 31st march to leave.
@RjYq2C3-1agv -- its real in IT this time....lots of fake posts but this one is real. march 31 is last day for folks in AZ....same b u L LLL s__t , different excuse(official reason), different day.... thanks for all your years of service , 10 to 12 hour days, now take your pink slips and just remember you should have left in 2016 when the package was better. for you newer RCG's -- slave away the opportunities for advancement are well laid out, and yes the free fruit and free coffee are still available.
@izew yes CIO position has been diversity showcase since the massive scandal caused by the last male CIO and his super slimy staff. At least we don't have that B.S. going on in IT anymore.
@1mja First, as others have said, IT always has layoffs going on. It does not mean anything for other parts of the company.
Second, if you want to work for an American company, please learn English.
is it first ? when other groups layoff ?
March 31 term date, 1 week per week of service
How are the packages OP?
Please post news. Not rumours and speculation.
CIO post is a position reserved for diversity and inclusion at Intel. Because all other seriously important positions need to have people with talent. Shows how unimportant IT is ... Too much of an overhead for well below par services. It is a group that sees themselves as more important than their customers (like the whole of Intel, arguably)
Pure evil in action and at play as false stories and narratives get created to get rid of people that genuinely belong in their it job.
@1eaq Huh? Why does a constant layoff in IT show that this company‘s era is gone? IT is basically a service organization and nothing else. They are completely separate from what we would consider „Intel culture“.
based on what ?
Every intc org has holes for ppl to hide in. not only IT. HR. VPC. SSG etc. List goes on.
I heard 300 in AZ. Redeployed.
IT sounds a bit like Custom Foundry.. A place to hide people so they can remain employed.
Confirmed. It has been a long time coming, as IT is one of the most stupidly bloated, inefficient and wasteful orgs. Much like HR and MVE, it has been operating as kind of a shelter or 'safe space' for many failed employees and deadwood from other groups that got closed down or downsized in the past 3 or 4 years.
AZ ?