News Intel offers Irish employees voluntary severance packages up to €500K — chipmaker provides an alternative to layoffs

[Admin]

Intel's workforce reduction efforts are underway, and the chipmaker has offered a generous severance package for those who volunteer to give up their jobs.

Intel offers Irish employees voluntary severance packages up to €500K — chipmaker provides an alternative to layoffs : Read more

 

[Geef]

You never know: Jim the janitor who's worked at Intel since he graduated high school in the 80s can cash out and score big. Sadly almost everyone else is SOL for the full possible payment.

(No I didn't calculate anything, I'm just sayin')

 

[Dr3ams]

Severance packages from tech companies can be pretty sweet. I got 170k Euros from Deutsche Telekom. They paid it out in one sum. Taxes were deducted, but because it wasn't a standard paycheck a tax accountant got most of it back for me.

 

[DemonicSky]

What they fail to mention is that majority of the staff are contract workers hired by agencies. And they also didn't mention that numerous of the employees already left for other jobs as soon as Intel announced there will be layoffs. Some teams lost half their staff overnight at that. Will be interesting to see where they get the quality to keep going.

 

[jkflipflop98]

What they fail to mention is that majority of the staff are contract workers hired by agencies. And they also didn't mention that numerous of the employees already left for other jobs as soon as Intel announced there will be layoffs. Some teams lost half their staff overnight at that. Will be interesting to see where they get the quality to keep going.

It should be noted that not a single word of this is true.

 

[Roland Of Gilead]

What they fail to mention is that majority of the staff are contract workers hired by agencies. And they also didn't mention that numerous of the employees already left for other jobs as soon as Intel announced there will be layoffs. Some teams lost half their staff overnight at that. Will be interesting to see where they get the quality to keep going.

Please elaborate on this! I'm from Ireland and whilst I don't live in Leixlip, I know many people who will be affected by this.

Whilst some of those workers may get a huge redundancy package, many others will not. The impact on the surrounding area will be felt for sure. This hits the Irish Government coffers and jobs in the local area. Not good.

 

[DemonicSky]

It should be noted that not a single word of this is true.

Every word of it is true. Literally live with one of their contracted staff so duh.

 

[DemonicSky]

Please elaborate on this! I'm from Ireland and whilst I don't live in Leixlip, I know many people who will be affected by this.

Whilst some of those workers may get a huge redundancy package, many others will not. The impact on the surrounding area will be felt for sure. This hits the Irish Government coffers and jobs in the local area. Not good.

Not sure what I can elaborate on tho. As soon as Intel said there will be redundancies they lost staff. I know a few workers there and one of them is a manager, he said he lost half his team due to this. I don't live in Leixlip but fairly close (like 30 miles).

 

[Roland Of Gilead]

Not sure what I can elaborate on tho. As soon as Intel said there will be redundancies they lost staff. I know a few workers there and one of them is a manager, he said he lost half his team due to this. I don't live in Leixlip but fairly close (like 30 miles).

Sound. Just thought there might have been a reference that I hadn't seen. My misunderstanding.

I guess it could very well be, that some have jumped ship. I would have thought that on hearing of the cutbacks, that almost everyone potentially in the firing line would apply for the redundancy, rather than not. However, job security can mean more than a lump some in the bank account. For most, the reducencies will only go so far.
Tough time for a lot of folk.

 

[DemonicSky]

Sound. Just thought there might have been a reference that I hadn't seen. My misunderstanding.

I guess it could very well be, that some have jumped ship. I would have thought that on hearing of the cutbacks, that almost everyone potentially in the firing line would apply for the redundancy, rather than not. However, job security can mean more than a lump some in the bank account. For most, the reducencies will only go so far.
Tough time for a lot of folk.

It's also possible they didn't find out about the redundancy package, because Intel told them weeks ago layoffs were coming. I guess we're at least lucky that there's quite a few IT jobs in the area, as long as you have a place to stay (Dublin is insane rentwise these days)

 

[Pierce2623]

What they fail to mention is that majority of the staff are contract workers hired by agencies. And they also didn't mention that numerous of the employees already left for other jobs as soon as Intel announced there will be layoffs. Some teams lost half their staff overnight at that. Will be interesting to see where they get the quality to keep going.

You completely made this up. The office I’m in at CSC literally has employees we JUST hired from there because they do a lot of LAN stuff there and they say very few people have left so far.

 

[ezst036]

Every word of it is true. Literally live with one of their contracted staff so duh.

Now 10 replies in, yet not one way to verify this claim. Something as you suggest would've been reported, somewhere.

 

[jkflipflop98]

Every word of it is true. Literally live with one of their contracted staff so duh.

I work there. Nothing you said is close to correct. Thanks.

 

[sjkpublic]

The article and comments do not address what is going on. How is it that Intel is not upgrading the facility? What does the facility produce? Etc. Etc. Once again, Intel appears to be on a downhill slide.

 

[edrandall]

You never know: Jim the janitor who's worked at Intel since he graduated high school in the 80s can cash out and score big. Sadly almost everyone else is SOL for the full possible payment.

(No I didn't calculate anything, I'm just sayin')

Let's work it back.
Say you joined right in the beginning when they laid the plant foundatoin stone, 1990. 34 years.
2 weeks/year capped at statutory 600 euro => 40,800
5 weeks/year at current rate of pay to make that up to the 500k figure, leaves 459,200
Divide by (5 x 34) suggests you're on 2700/week or 140k/year to get that payout.
So assuming that's the top-end salary at this plant.
Reality, someone who's been there 10 years on half that, will get about 80k.