Here's the new corrupt thing Intel is doing to these older laid off employees. Intel has an employee stock purchase program (SPP) that most employees pay into. Intel takes this money and purchases Intel stock for 15% below the stock price at its lowest point either at the start or end of the purchase period. This is a benefit to employees that give them a gain monetarily. Intel informed these employees they would not be allowed to participate in the SPP gains on Aug 19th because they are no longer employed with the company. Fair enough one would say. Well, Intel is not going to give these laid off employees the monies they put into the SPP until September 1st. Without interest!!! What Intel is doing, along with UBS, is using these employees own monies to help pay for their severance packages. Intel will take the 15% gain from the purchase and pocket it themselves, and then give the employees the money they invested back, 45 days after they fired them!!!
This should be illegal!! If not, there should be a law suit against Intel for this corrupt action! Intel better give these employees their money back with the 15% or those who were vested need to take this corporation to court!