colleague in Intel received email ask if he accept paycut.
He refused last time. but this time HR said by accepting paycut could save 7000 jobs from layoff. And also said Pat promise paycut will be canceled in October, so accept now won't be a big deal. What the hell is going on in Intel? #Intel #layoff
Troubling times!
Most people would rather see job cuts for bottom performers than pay cuts for all.
Yes, true. Then they end of same
If you take a paycut, do you have any protection against layoff later? Is this bound by a contract?
How much % they ask him to cut?
5%
He is crying for 5% cut in this market? Is his brain in his ass?
So what I hear is they begged for psych and those who said no kept their job So Say no
A friend's Honeywell division took a paycut in the 2008-09 recession. It worked. No one lost their jobs and pay was restored within 18 months.
The same thing happened in TI or NI during that period.
Cost is probably higher for him for the company compared to others. I would not want to be on the wrong side of HR in this environment without an other offer. Sometimes accepting a pay cut is better than no job at all.
I agree
Nonono, its worse than that. They forced it in US and asked (read bagged) the other ones :) it is so fcked up
That is because in other countries the company is required to ask. In the US, we do not have that protection.
Accept it, and also try to cut your expenses. Continental did something similar and also worked. Personally is the best decision
So for all the strong employees remaining, this is yet one more kick in the ass to go look outside. Don’t believe people who say Intel has no talent remaining. Some just aren’t TC/prestige hunters. But every loyal employee has a limit to what disrespect they’ll take.
It’s a mass email if it claims to save 7000 jobs, or your friend is the CEO.
HR told him so, not in the email