Tuesday, August 31, 2010

The latest from New Seasons and Intel

Earlier this month, we posted a story about New Seasons Market, which was inundated with more than 2,000 applications for 120 positions at a new store location. We wonder if those applicants knew about the loyalty program the company plans to institute for employees.

Most grocery stores offer special deals and discounts to shoppers. But The Oregonian reported yesterday on the New Seasons unit option plan for employees, an unusual benefit in an industry that generally experiences high turnover. The units vest in five years' time, and must be cashed out when an employee leaves. They could convert to ownership shares if the company merged or went public.

The unit options are in addition to a 7-year-old profit-sharing program, which pays out to employees twice yearly when the company makes money.

Intel also made news again yesterday, with the $1.4 billion acquisition of Infineon Technologies' wireless chip group. The cash deal marks Intel's second major purchase in less than two weeks as the chipmaker races to reinvent itself for a mobile age. On August 19, Intel made waves by purchasing computer security specialist McAfee Inc. for $7.7 billion.

Intel's largest operating hub is in Washington County, with approximately 15,000 Oregon employees.

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