Just heard rewards planning is delayed. Is that due to cost reductions? How much will that save us?
5 replies (most recent on top)
Yeah, pushing it out to July gives them time to layoff even more people in "round 2" prior to giving COLA raises.
It's sleazy, and in a time of the highest inflation since the 70's, it speaks volumes about how much ELT "cares" about the "Intel family" they like to drone on about.
It's a big club, and you ain't in it!
Don't worry, after all this is done, the CEOs and CFOs and the very high level ups will get a nice 10-15% raise because they've been thru a lot. They saved the company yet again by laying you and your peers off. If you are lucky to survive, you will get the message in July that due to economic conditions and state of the company, we are not giving any raises to anyone. Be thankful you have a job.
So you save the costs of pay raises and stock grants for 3 months. If they keep it at July in subsequent years, the savings are actually compounded every year.
If they're planning a big layoff in June (which, if you been at Intel for a while, you know that's when they usually do the really big layoffs) then they will save on raises and severances for everyone that gets laid off.
It rewards planning. Rewards delivery. July instead of April.
Yes cost savings of cost of raises/stock for 3 months