Has anyone heard rumors specifically which BU’s will targeted most for these layoffs? Or is the plan to just skim some off the top of each one?
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If PC sales bad, does it mean XEG / XEON group is safe?
They are saying it’s going to be their HRIT finance and marketing team is primarily. But most of the savings is going to come from cutting consultation some other spending in efficiency and fixed costs and not people. They also said some thing about the factories doing some kind of shift reductions when things are not busy.
@mhx+1jpu9cQU -- you never know Pat. He is most corrupt guy.
Capital expenditures are not accounting "costs" - they are capitalized and reducing them is not gonna count as "cost cutting". So except for the free fruit, the $3B and $10B should mostly be HC related.
Total cost for R&D and Sales and Marketing is $24B yearly based on latest earnings report. $3B is around 12% of $24B so 16k headcount report by @rgc+1jpu9cQU makes sense. But this is by end of 2023 so it will be throughout next year.
If Pat counts reduction in capital expenditure for cost cutting then headcount reduction will be much less.
If all cost saving comes from HC reduction, $3B is equivalent to ~16k US HC, which is really too deep in cutting and may interfere with corp executions.
No details shared with shareholders for layoff. Only cost cutting. $3B by 2023 and $10 by 2025. But that can be achieved by reducing capital expenditure. So egoistic Pat misguided again.
Will know by 2025