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Cree

Maker of LED lighting and chips.

Headquarters: 4600 Silicon Dr.
Durham, NC 27703
Employees: 7,130
CEO: Charles Swoboda
Stock Symbol: CREE

Website: http://cree.com/

Career Site

Cree is a maker of environmentally-friendly LED lighting, and semiconductor solutions for wireless and power applications. Cree’s product families include LED fixtures and bulbs, blue and green LED chips, high-brightness LEDs, lighting-class power LEDs, power-switching devices and radio-frequency/wireless devices.

Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variable-speed motors, and wireless communications.

Cree technology can be found in products such as: digital camera flash, full-motion video signs, automotive dashboard lighting, traffic signals and cellular phone backlighting.

For fiscal 2014, the company reported revenues of $1.64 billion, up from $1.38 billion. Net income was $124.1 million.

The company was formed in 1987 by researchers from North Carolina State University.

Benefits

HEALTH BENEFITS

Medical:

Choice of two levels of PPO plans.
Dependent coverage available for you, your spouse and/or your dependents.
Eligibility - first of the month following your first day of employment.

Dental:

Preventative care is covered at 100% with no deductible.
After deductible is met, basic restorative care is covered at 80% and major restorative care is covered at 50%.
Orthodontic coverage for children and adults available for $2,000 maximum lifetime benefit.
Eligibility - first of the month following first day of employment.

Vision:

Cree's Health Care Plans also provide vision coverage as part of the medical plan.

FINANCIAL PLANS

401K Plan through Fidelity Investments:

Cree match is 100% for the first 1% contributed and 50% for the next 5% contributed.
Multiple investment options available through Fidelity with on-line review of accounts.
Eligibility - within one to two pay periods of starting.

Quarterly Incentive Cash Compensation Plan:

Plan is designed to provide cash incentives to eligible employees when the company achieves quarterly net-income goals.
Eligibility - first day of employment.

Disability Insurance:

Short term disability pays a percentage of your base pay for up to 180 days and this is entirely paid for by Cree.
Long term disability pays 60% of base pay with a maximum of $8,000 per month and it is entirely paid for by Cree.
Eligibility - first day of employment.

Life Insurance:

Basic benefit is two times annual salary (min $50,000/max $350,000).
Dependent coverage is $5,000 for spouse and eligible child.
Supplemental life insurance is available for employees and their dependents.
Eligibility - first day of employment.

EMPLOYEE RESOURCES

Employee Assistance Program:

Offering confidential counseling, education and referral 24 hours per day administered through ValueOptions, including financial and legal assistance.

Educational Assistance:

Reimbursement for degrees/courses that are job or company related up to $5,250/per year.
Sliding scale of reimbursement based on grades achieved and level of coursework.

Auto/Homeowners Insurance:

Convenient payroll deductions for homeowners/auto/boat insurance through MetLife.

Flexible Spending Accounts:

Medical - save up to $6,000 yearly on a pre-tax basis to pay for medical expenses not reimbursed by insurance.
Dependent Care - save up to $5,000 yearly on a pre-tax basis to pay for child care expenses resulting from your working.

On-Site Fitness Center:

Open to all employees, their spouses, and/or their dependent children between the ages of 16-22 at Durham, NC location, free of charge.
Various fitness and wellness programs available.

Updated January 24, 2015