Laid off in IT today. Really s—s as I was working on really relevant projects on a busy and productive team. There is no safe group in IT.
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The packages are terrible. They were 2 weeks per year of service for many years + a 4 or 8 week kicker. Now they are 1 week per year of service. HR will say that is competitive with the market. The real answer is, they don't work for us anymore, why should we care they gave 10, 20, 30 years of their lives. Isn't two months fair compensation for 10 years of service and loyalty? Lets just say that these record quarters are on the backs of sc-aping benefits away from employees and motivating them to be amazing. They even built one of the bonuses with new metrics and tied it to Trump's tax plan. As long as the corporate tax rate is 20% the bonus has parity with the old bonus. As soon as it goes up, the bonuses go down... a lot. With $16-$20B a year banked, we should have been winning and winning big, but financial performance and innovation are two ends of a two bladed sword without a handle.
There was always a fear that CPUs would become a commodity once we reached the end of Moore’s law. At that point, only clever marketing and cost control are differentiators. What we have now is worse — we’ve hit a Moore’s Law wall while our competition has powered beyond us. That means clever marketing and cost control aren’t enough to remain competitiveness. Layoffs are inevitable in this situation, particularly in IT (as it always gets hammered first). Hopefully the ship can be turned but it’s going to take a spark no one yet sees.
EPG SW laid-off ~40, effective tomorrow. Approx 10 found other internal jobs.
Add Arizona to your list
So from the above, this seems real:
Impacts IT in Folsom, Oregon, and possibly other sites
Some have already been told, others later this year or the very beginning of 2021
What else is known? How many people does the CIO expect to get hit? What are this layoffs’ targets-de-jure and who are the spared sacred cows? Is there any chance for a traditional redeployment (where people actually have a chance to move to an existing opening)?
The CIO message said it was due to budget. Why couldn't the larger Intel provide the budget until Covid is over? So what if its another year of payroll? Intel has deep pockets. BS would have been asked for the money and this is as much his decision as it is CIO and Staff.
Intel leadership does nothing but lie and manipulate this company is sh– to work for, get a check from them and that is it. I could give a sh– if intel does well or not at this point.
The only thing that our executive team Is good at is spin. They are really good at b—s—ting. I mean it is A+ performance when they answer questions like “why do you spend money buying our stock instead of investing in our business” or “are we going to have any layoffs”
They are shameless. The lay-off question always get the “no plan for a company wide layoff” spin answer. It means yes we will have layoffs but it will not be cross company, a mass lay-off. We will do small layoffs all the time to avoid warn reporting and bad press.
I don’t even know why people bother to ask questions. You are giving them an opportunity to spin. You should be suspicious of people who always bring up how integrity is so important for them. You remember BS’ famous “If it is not done with integrity, it should be done” whatever dude. You are a liar!
Downfall of Intel all started with BK and MR.
BS just said "no corporate layoffs across the board", this is just IT so he did not lie but he is and was full of c-ap when he said that he knew where the line was and instead of being clear and stating there will be some groups that will have HC actions, he like many others chose the b—s— path to head down.
BS is nothing but an interim CEO (2 years in), he is unable to perform the job and Intel is unable to get a CEO as no one seems to be interested to ruin their CEO career with Intel on their resume.
BS lied. Well technically the last day is in 2021 but really? No layoffs in 2020? I actually was dumb enough to believe that, but then said to my family that 12:01 January 1st people would be notified.
This is all the Intel knows at this point, they cannot compete in the marketplace, they are grasping at straws as to what to do. Reducing headcount and cheap GEO employees are all they know anymore, there is no innovation here, restructures, refactors lead to the EXACT same directors in the EXACT same positions, little room for any growth, little room to add new perspectives into the leadership team, just the same cast of characters stumbling their way through the work day. Intel offers nothing more than a JOB, not a career, a JOB, a clock in clock out JOB, no loyalty, a JOB.
With this approach Intel cannot retain talent, Intel cannot attract younger college graduates with necessary skills. Intel treats employees as nothing more then a commodity, to move and trade as needed.
Intel is the GE of the silicon world.
@1lhq+17SNsVxm which group in Folsom? Would it make sense to transfer to another site? I’m guessing no site is “safe” at this point.
Got to be quiet Intel has been doing layoff quietly and unnoticeable. Intel never open communication
they want to keep more green badge
Bob said that he didn't expect any layoffs? You must have missed the part where he muttered "for URMs" under his breath.
Also. His initials are B$ for chrissakes. The bean counter knows only a few things.
- Count beans
- Stock buybacks pump up the stock price short term
- BK showed that an Intel CEO can dump stock without any serious charges of insider trading
Is it widespread? Heard about one colleague in PSG as well. Bob just last week said he doesn't expect any layoffs.
Sorry, hope you can find something else that's better in reasonable time
Well that does s—. There was just a reorg/split in that group. Its already at minimal headcount as it is.
Packages for 25% of the workforce would cost $1 bil
How many were laid off?
Which group and location in IT?