A brief phone call from the company telling you that you’ve been let go — with no reason at all. Your job ends today, effective immediately, no 30-day notice, nothing. It’s heartbreaking.
20 replies (most recent on top)
@fq Probably pumping his calls. Theta's a bi--h, isn't it?
@fp Sooooo, you're bag-holder expecting us to bail you out for your bad decisions?
@fn No one said anything about RSUs.
As you do not work for Intel, why care about such a thing?
No one on this site is promoting the stock, for obvious reasons, but plenty are clearly either short or wanting to see the stock crash, and that is pretty obvious too.
Turning the troll up to ultrapsycho does not make it work any better.
@fm Whereas you'd propose Intel employees ride their RSUs into bankruptsy? You're know financial advisor
@f1 This site is polluted with Intel meme stock trolls.
They have no involvement with the company and just spew a steady stream of lies and nonsense.
You know, like they do everywhere else.
@f1 You’re an HR troll. Correct?
@et Yeah the stock trolls are going ultra-psycho on LBT.
They want to see a foundry spin off announcement next week, so they can get a payday on their 0 day options.
What about the workers? Sheeple please.
If LBT is pushed to do a fast spin off of IFS, that would likely include a very large number of layoffs.
Older fabs might be kept with Intel, then shuttered.
LBT has been actively working to restructure IFS, but that takes a year or two, and looks like there is no patience for that by the Board or the administration.
So the spin off happens as a rush job, to enable a larger deal with Taiwan, and the independent IFS then has to get to breakeven the only way it can, by slashing headcount and cutting entire groups. TD would be hit particularly hard.
Those going crazy with LBT bashing must want all this to happen, maybe because of what it would do for the stock.
Just a trade to the trolls, with no concern for any of the workers involved.
Everyone be sure to check their spam folder before going to work, for the next few weeks.
Might be able to save you a trip, because your badge won't work.
Besides, they already stopped the free bananas, and a lot of people really wanted to not have to come to the office.
It will be like WFH but without the work part.
It's all fun and games till you get the robocall.
However this works out it won't take long.
For anyone who actually read what Cotton asked, he wants proof that LBT divested.
LBT has claimed that and now he has to prove that.
If he is out, then the Board may immediately file for bankruptcy, to speed up the breakup of the company. BK (bankruptcy, not that old CEO) enables a company to get better value for its assets and so a lot of companies use it as a way to shed liabilities and get a better breakup value.
Even if the Board does not use BK, then it still likely breaks up the company, having gotten bids from Broadcom and others, including TSMC, prior to LBT joining.
LBT is here to get the most value from the breakup, so the strategy remains to break up the company, but just do it without LBT. That is where BK can add a lot of value.
Stock and retirees are wiped out and benefits slashed, with maybe up to 40% of the workforce terminated, with no benefits.
And that happens over the weekend, so Monday the workers get a robocall and their PC is turned into a brick.
@a7 Slowly wheeling over in my Dr Evil command chair,
'How About No'
God bless the USA, where a person is just a resource. Not like in that damned, leftist European Union, where workers actually have some rights.
To quote Judge Smails, “you’ll get nothing, and like it!”
@a7 To quote Wi--y Wonka, 'You Get Nothing'
If the prez is pushing LBT out in order to breakup the company, that would likely be through a prearranged bankruptcy.
No Pension, No SERMA, No IRMP, No Severance Package, likely no COBRA. Stock goes to $0 so no RSU.
You would be eligible for unemployment.
The winner companies would keep a portion of the employees but likely would make them reapply for their jobs.
The Board was going to do some form of this before it got LBT on board to do a slower version of the same thing.
If the govt really wants to do this then they can make it happen over the weekend, so you wake up Monday to a new reality.
No notice at all? How about severance?
I don't believe OP was referring to himself being terminated.
Sorry dude. Use the opportunity to take a nice vacation somewhere. Long term you are better off being out of this company. Good luck.
Sorry to hear that news. Make sure you get payed for your notice.
Sorry to hear that buddy. You are not alone, LBT is feeling the same thing.