Topics regarding layoffs at Intel Corp.

Topics regarding layoffs at Intel Corp.

QPB received, anyone?

I got about $40-60 for my most recent QPB. I realize this is an optional bonus, and is not to be expected…. But I feel like I’m getting slapped in the face with such a disgraceful bonus.

The Intel Slasher Strikes Again

Dateline: 1/31/2023 Intel said it had made broad cuts to employee and executive pay. The reductions range from 5% of base pay for mid-level employees to as much as 25% for CEO Pat Gelsinger, according to a source quoted by Reuters. In addition, vice... —  read more 

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Post ID:  @OP+1kYPwLhD

People calm down

Meritocracy never really existed at Intel. If it did Intel wouldn’t be in this state today. Chr—sty just formally shut down meritocracy aka favoritism charade.

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Post ID:  @OP+1kYK0r09

What's fair about this?

What's fair about this? Our executives fire the pool guy for one of their many estates, and the folks who actually do the work can no longer pay the rent on their only apartment. Good luck with that brilliant decision.

Why Hide Numbers?

Why are they keeping things opaque? Intel said it’s on track to cut costs by $3 billion this year through layoffs and other measures as the company works to shore up the bottom line after posting a small quarterly loss last fall. Intel hasn’t said... —  read more 

I've seen this before.

I'm an old fa-t, and I have seen how this has progressed at many other companies - Intel's days are numbered. When you hear "Focus on core products" it is time to go. Intel will continue shutting down and selling off businesses so they can focus... —  read more 

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Post ID:  @OP+1kYO1cVE

Volunteers for CPM again?

Hopefully Intel offers voluntary CPM again so people have the opportunity to leave with fat pockets. Then again they will all just come back again in a few years for more pay and Intel will repeat the same mistakes again. Over 10 years Intels had... —  read more 

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Post ID:  @OP+1kYVb8G0

Stock holders or employees?

Stock holders and those who get more from stock compensation than rank and file is the priority! The CEO and ELT do have a duty to the owners of the company long term. But seriously protect the dividend short term versus reward the hard working... —  read more 

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Post ID:  @OP+1kYY4i0G

Loot n Scoot ?

Here's my 2$ conspiracy theory: ELT has large part of compensation in stocks than base pay. Even if they reduce their base pay % the dividends are still not reducing or stopping. Workers will toil and pay for ELT fat salary with no bonuses for... —  read more 

Genius moves

Get free government money to save American jobs Pay fat dividend to please grumpy shareholders Tout the huge cost-saving down the road to make employees nervous Wait for large layoff announcements from everywhere Declare pay cut like... —  read more 

Lack of leadership

A peanut butter paycut spread across the higher grades, instead of making tough decisions: closing factories, ki-ling vanity projects, sales offices, etc… every CEO since Andy has been gutless to make the tough calls. It worked for Craig and Paul... —  read more 

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Post ID:  @OP+1kYVSe1X

Folks hired in last 2 years

If you would know what we paid at each grade level to hire folks from outside, you would go crazy. Every new hire was hired 1-2 grade levels above with insane salaries. Way above 95%. Insane stock and bonus benefits. The market was hot, but... —  read more 

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Post ID:  @OP+1kYz80qL

Do Not Worry!!

Listen all of you p** ons. Go on and complain! All of the G9s and 10s will do your work if you leave. It’s all of you lower grades who complain. It is us who all make 250k and more who keep the company running and carry the rest of you on our... —  read more 

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Post ID:  @OP+1kYQuvEc

The push

The writing been on the wall for some time now, but most tend to stick around for wait and see and need that extra push. I think what Intel is doing now is pushing employees to leave on their own as they can't pay 40K employees severance packages. —  read more 

LolZ

Intel cuts pay for employees by at least 5%. VPs 10% cut, more senior executives will get 15% cut and CEO gets a 25% haircut.

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