Comments on: Intel to shut down Cavite facility by year-end

By: Jacobato

Jacobato — Sun, 25 Jan 2009 01:59:42 +0000

you are sir an admirable I/T expert, but let the law be the domain of lawyers. It’s not DOLE but the Labor Code that sets the MINIMUMS, and the labor code says half-mont salary, no ifs and not buts. cheers!

By: yuga

yuga — Fri, 23 Jan 2009 17:20:01 +0000

According to DOLE, it’s 1/2 months or 1 month, depending on the cause of the lay off.

By: Jacobato

Jacobato — Fri, 23 Jan 2009 16:42:50 +0000

under the law, separation package should be HALF MONTH salary, not ONE MONTH SALARY, for every year of service. the intel formula is not as simple as pegging number of months per year of service. it is a very rich package, such that you get higher multiplier if you have longer length of service.

there was NO MEMO circulated to employees re shutting down the facilities. they were informed in a big forum which they call BUM or business update meeting, personally by one of their corporate EVPs. the memo circulated was only to advice employees to attend the big meeting.

By: Slowly but surely : Manuel L. Quezon III: The Daily Dose

Slowly but surely : Manuel L. Quezon III: The Daily Dose — Fri, 23 Jan 2009 04:25:13 +0000

[...] to Yugatech (in Intel to shut down Cavite facility by year-end), has been steadily paring down its workforce since April, 2008 (when SEAV’s entry came out), [...]

By: Current » Slowly but surely

Current » Slowly but surely — Fri, 23 Jan 2009 04:21:44 +0000

[...] to Yugatech (in Intel to shut down Cavite facility by year-end), has been steadily paring down its workforce since April, 2008 (when SEAV’s entry came out), [...]

By: otoyoreyes

otoyoreyes — Thu, 22 Jan 2009 08:13:31 +0000

geeez its starting to happen na .. were beginning to feel the effect of the global financial crisis..

but were pinoy, i know malalampasan natin to.

By: Intel Philippines On It's Way Out, Closure Imminent | YugaTech | Philippines, Technology News & Reviews

Thu, 22 Jan 2009 00:17:46 +0000

[...] Intel to shut down Cavite facility by year-end [...]

By: gen 3

gen 3 — Wed, 21 Jan 2009 17:51:24 +0000

guys,

The multiplier depends on the years of service you have rendered for the company. I can’t remember the exact formula that was used but there are certain brackets with certain multipliers (e.g. <4 years is x, 5-8 years is y).

Aside from the separation pay, the retirement pay was also given even if you are with Intel for less than 10 years (it’s prorated of course). Additionally, medical benefits were extended for another year from day of separation. Workshops were also provided by Intel to prepare these employees for a new career.

All in all i’m very much happy on how Intel treated us. I bet no other company right now in the Philippines who has laid-off their employees has done these extended effort.

By: yuga

yuga — Wed, 21 Jan 2009 15:11:20 +0000

@BrianB – standard is one month salary for every year of service.

By: taksan

taksan — Wed, 21 Jan 2009 15:05:31 +0000

so it’s slowly affecting us now eh?

By: BrianB

BrianB — Wed, 21 Jan 2009 15:00:22 +0000

Tanner, liit pala.

By: wh@

wh@ — Wed, 21 Jan 2009 12:38:33 +0000

wee.. talaga naman affected na ang lahat ng GLOBAL FINANCIAL CRISIS. POOR US.

By: Andre Marcelo-Tanner

Andre Marcelo-Tanner — Wed, 21 Jan 2009 11:05:14 +0000

1.75 x monthly salary x years of service

By: BrianB

BrianB — Wed, 21 Jan 2009 09:41:58 +0000

I mean that’s 1.75 x 12 x years of service, correct?

By: BrianB

BrianB — Wed, 21 Jan 2009 09:36:18 +0000

The severance packages should be put to good use. I’d go for a business masters degree. Some will probably try to put up a business, an undertaking that shouldn’t happen when you’re in a panic.