Well, the end has finally come. About 10 years too late but that's show biz. Haven't checked in for many years but wanted to say hi and bye yo the old timers. Nightly, if you still read stuff here, all the est to you. And to all the old timers. We had some fun back in the day.
for all U bag holders that paid $9,10,11 for AtsmellYou are under water
Sentiment: Strong Sell
The employees have been told of a coming layoff. They will be called into the office and will be offered a pay cut. They will take the pay cut or be laid off. They will also take some of their 1/2 pay from them. I guess they are trying to make Atmel look good. .
Severance agreement was inititated July 1st and was set to terminate on November 1st, unless an "initial triggering event" occurred, which on September 20th happened when Dialog made an offer which was intially accepted by Atmel. Microchip then came in with a better offer which was accepted so the original severance agreement carried over. Microchip apparently believes it did not carry over, but out of the goodness of their heart has agreed to pay a severance at 50% of the original. What a company.
Good bye Skeeter.
I too have been messing with this company for over 16 years and have done fairly well with it.
I remember when Nightly posted here quite regularly.
Good luck to you and to Crazy Norman and the other old timers if any more are still around.
Curious. What was the severence given by MCHP? I know Microchip is notoriously cheap, but 40% seems excessive, unless you were there for a while.
Well at least Laub and the board got their Golden Parachute. How many thought they cared about their employees? Not me. The Bend over severance package.
microchip starting eliminating employees today in San Jose. to the dismay of those laid off, microchip is not honoring the severance package agreement the Atmel employees received last year. no 40% of paid salary; no 4 months of paid COBRA. microchip has stated they are not liable to honor the agreement.
you have been warned. the severance package is no longer valid and when you are laid off you will not receive what was stated in the package agreement.
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