Thread regarding Intel Corp. layoffs

1. 5 years severance for every year of service, Troll

U.S. SEPARATION BENEFITS:

Benefit Amount & Separation Pay

4 weeks of pay + 1.5 weeks of pay for each full year of service.
Not to exceed 47 weeks of separation pay

Pay in lieu of time in Redeployment:
9 weeks

APB
Payment
For non-retirement eligible employees who terminate in Q2-Q42, APB prorated based on the number of months worked within the calendar year

Healthcare
Benefit
Age 63 and below:
12 months of Intel-paid COBRA premiums

Employees must enroll in COBRA to receive the benefit –

Employees age 63 and below with:
• a spouse or domestic partner age 64 and above
OR
• a spouse or domestic partner age 63 and below and entitled to Medicare due to receiving Social Security Disability Insurance (SSDI) will receive a $10,000 healthcare cash payout in additionto 12 months of Intel-paid COBRA premiums

NOTE: Employees with a spouse or domestic partner age
63 and below and entitled to Medicare due to receiving
SSDI must contact Workforce Transition Services to
initiate the healthcare cash payout.

Age 64 and above or age 63 and below and entitled to Medicare due to receiving Social Security Disability (SSDI):
Healthcare cash payout as follows:
Employee only $10,000
Employee + 1 dependent $20,000
Employee + 2 dependents $30,000
Employee + 3 or more dependents $35,000

External Career
Transition
Services
6 months

For Separation Pay, one week of pay is equal to base pay plus any applicable shift differentials plus 50% commission target divided by 52. For pay in lieu of time in redeployment, one week of pay is equal to base pay plus any applicable differentials plus 50% commission target divided by 52, plus applicable weekly overtime for Compressed Work Week.

For APB eligibility, Q2 to Q4 is considered April 1 to December 31
Retirement eligible employees are not required to sign the Separation and Release Agreement for the APB
Payment and the APB payment is as described in the Pay, Stock and Benefits Handbook Chapter 16.

To receive the Healthcare Benefit (12 months Intel-paid COBRA or healthcare cash payout in lieu of 12 months
Intel-paid COBRA), you and your eligible dependent(s) must be enrolled in the Intel Group Health Plan the day before termination.

Age determined as of termination date.

Up to 12 months Intel-paid COBRA premiums provided for Intel medical, dental and vision benefits; employees below age 64 must enroll in COBRA to receive the benefit

NOTE: All cash payments are subject to applicable taxes and withholdings; Intel-paid COBRA premiums are generally not taxable, subject to the IRS nondiscrimination rules; Healthcare cash payout is tax-protected, payout is based on current Intel healthcare benefit enrollment.

Go look at the CVP severance package in the SEC makes you sick. Accelerated vesting of RSUs and massive salary and bonus. It is public

Key Components of the Executive Severance Package

1. Cash Severance Payment

• Amount: 1.5 times the sum of the executive’s annual base salary plus target annual bonus opportunity.
• Payment Schedule: Payable in installments over 18 months post-termination, aligned with Intel’s normal payroll practices.

2. Health Benefits

• Coverage: A lump sum payment approximately equal to 18 months of group health plan premiums.
• Intent: To assist the executive in continuing healthcare coverage after departing Intel.

3. Equity Vesting

• Restricted Stock Units (RSUs) and Performance Stock Units (PSUs):
• Eligible RSUs: Pro-rated vesting based on the number of whole months of employment during the vesting period.
• Time-based equity: Vesting of these awards accelerates at the time of termination.
• Performance-based equity: Vesting based on actual performance results at the end of the performance period.

Maximum separation payout is 104 weeks or €500,000. But you must be fired from Intel in Ireland. Do you know whom you should "thank" for this?

Hilarious thread. Sounds like a couple of first-graders talking trash to each other.
Thanks for the laugh! Now go work on 14A.

There’s a cap at 40-something weeks total. No one is getting paid huge money unless your salary was so big you wouldn’t need severance anyways.

No maximum. I retired a multimillionaire after 28-years, and a healthy portion of that came from severance.

@a4

If you're going to use a different language's words, then use the correct spelling (and pronunciation).

The word is not, "whala," it's "voila".
It's French.
And it's pronounced as starting with a hard "v", not as a "w".

Click onto the icons to hear the correct pronunciation/s: https://dictionary.cambridge.org/dictionary/english/voila

Make the minimal effort required to LEARN about things before spouting off, so you present yourself as being aware, in-tune, and attentive to detail.
Or don't.
Your life, your career, your way of moving in this world.
Either be steady, sharp, and on point; or sloppily slipping and sliding off the mark.
YOU decide.

The typical Intel employee cannot research something has to ask for an answer spoon feed to him/her i see this sh-t everyday

There's no limit. Some long-timers got over $0.5M in severance. You heard it here first.

1. 5 years for every year of service

Obviously OP does not work for Intel.

Just another news troll, seeking details for some story.

47 or 48 weeks maximum

@a3 Go to your CMP web site. Has a calculator. I put your info and whala... you have your estimated payout.

@a2 can you share what that limit is please?

Yes