Intel: Take the buyout or get laid off

If employees don't take the right course of action, Intel's layoffs may not be over, according to The Oregonian.

In late April, Intel announced plans to cut 12,000 jobs. The company has already laid off 784 workers in Oregon, according to The Oregonian.

Intel is now dispensing buyouts to employees in its "Voluntary Separation Program." In an email from company leaders, Intel said its buyouts are "market leading and the highest offered by Intel in the past several years." The buyouts, which are being offered to those whose jobs are being cut, give employees a minimum of eight weeks of pay, a portion of their bonus and at least six months of health insurance.

But the buyouts also have a downside. If not enough employees opt to take them, Intel will lay off even more employees.

"If we don't meet our targets, we will take follow-on actions, including involuntary headcount reductions," the email said, according to the report. "Those impacted by these follow-on actions may not receive packages comparable to the ones currently on offer."

Employees who are offered the buyouts have until June 2 to decide whether to take the deal.

More articles on health IT:
29 hospitals, health systems seeking Cerner, MEDITECH, Epic talent
13 latest data breaches
ONC launches 2 award programs totaling $1.5M to boost interoperability, data standards

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.


Featured Webinars

Featured Whitepapers