Or will they still do another full 15% ISP of remaining population … PG did imply minimum was 15% so maybe this way the total involuntary layoff still comes in at what he stated but the reduction is substantially more which would please investors?
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Maybe different in each country , but in the U.K. we have already been told that if ERP eligible , same package will apply for those ISP’d.
@muv he meant when 15% will be 15k, i.e., fire 25k first to reach 100k and then fire 15% or 15k more
@ifz+1ulVezS3 ... the number presented during the earning call was >15%
From page 2 of the Q2 earnings PDF on intc.com: "Intel expects to reduce headcount by greater than 15% with the majority completed by the end of 2024."
Intel's headcount on 8/1 was greater than 100K so your reference and this one conflict but I guess that isn't really a surprise since they both came from Intel management.
Some areas will be 30% cuts in the BU combination of projects/headcount.
CEO's original statement:
"We plan to deliver $10 billion in cost savings in 2025, and this includes reducing our head count by roughly 15,000 roles, or 15% of our workforce. The majority of these actions will be completed by the end of this year."
Guess left some ambiguity there.
It is not 11k, not evrn close and it is gpinf be 30%
It was clarified internally that 15k is not same number as 15% and the correct number is 15k HC reduction.
Once again for the slow people... IT'S NOT 15,000. AS STATED BY PG IN THE ALL HANDS MEETING IT'S "AT LEAST 15%" --which is approx 18,700.
It was never stated as 15k. It was always >15%. So probably closer to 18k.