Intel boosts employees’ child care benefits
Published 11:33 am Tuesday, July 16, 2024
- An Intel Corp. branded chair at the Tech & Innovation Expo at a festival in Sydney, Australia in 2023.
Intel says it will expand the range of child care benefits it offers employees, a shift that could affect thousands of workers at the state’s largest corporate employer and set a standard for other Oregon companies competing for workers.
At an event last week, Intel said the value of its child care benefits is doubling. It didn’t disclose some details of the changes, though, or say how it determined that the value will double. The company said it will have more information for the 23,000 employees at its Washington County campuses later in the year.
“By providing affordable, accessible, and reliable care, our goal is to foster diversity and support parents,” Intel benefits Vice President Amber Wiseley said in a written statement. “No one should have to choose between advancing their career and managing the high cost of childcare.”
Intel employees are already eligible for discounts at some child care providers. Intel announced that it will add a second network of discounted providers, and it will help employees find other providers near its sites.
The company also will increase reimbursements for hourly workers who use its existing backup child care program, which provides alternatives when an employee’s usual child care provider is unexpectedly unavailable. Intel said it will open a pilot backup child care center in Oregon for children up to 5 years old.
Intel depends on workers being available to work their scheduled shifts in factories that operate around the clock. So expanding child care benefits for hourly workers and providing backup options could help the company keep factories on schedule.
Companies that receive funding through the federal CHIPS Act must offer child care as a condition of their eligibility. Intel, in line for $8.5 billion in direct subsidies and billions more in loans and tax credits, announced its expanded program at an event cohosted by the Commerce Department in Washington, D.C.
But Intel said its existing benefits programs already met the threshold to qualify for CHIPS Act funding. The company said the expanded benefits are aimed at helping employees balance their families and careers.