Has Intel ever considered not spending money on perks (e.g. water bottles, t-shirts, keychains, etc.). I don’t know how much these things help with advertising/morale and only get them because they’re there. I personally only care about free lunch for on-site workers and marginally about free coffee/drinks. The WFH set up also was a good investment. I feel like the money used on water bottles and what not could be used somewhere else without people missing much.
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These tokens are basically meaningless when it comes to the bottom line for BUs.
You want to see real, palpable waste? Look at the r—ded acquisitions and mismanagement thereof like Nervana that ICAP does. The woke signaling sinecures in diversity/inclusion. The mindless b-school benchmarking while downplaying the actual product benchmarking against Zen 3.
There's nothing Intel's producing that is genuinely exciting anymore for consumers or customers. Just floundering hopelessly until the ship runs aground and it goes the way of VIA.
I didn't work at Intel long: Laid off fter just over a year in ACT because my manager said that new employees should automatically receive an SL4... which was the formula for layoff. She said that she received the wrong guidance but it didn't matter.
I came to Intel from a place where employees were invested in spending money wisely and not wasting it. On my first work trip a few days after joining, I stayed at a relatively inexpensive hotel. And took public transportation to and from the airport. When I met my new fellow employees at the meeting, I found out that they were all staying at a place that cost at least $150 per night more than where I was staying and that they had all rented cars and spent the night before on hundreds of dollars of dinner and drinks, I knew that this was a very different culture.
The swag and shirts and stuff are just a distraction. Most employees would much rather have a decent workplace and managers who they trust than a shirt or piece of cake.
There have been inexplicable wastes of money, particularly during the good times (OK granted, one has to go back to the 90s for good times). I still remember seeing multiple cross group meetings — I think there were around 6 people total in the smallest one — in a hotel conference room in Folsom. Was the conference room shortage that bad? And then there were all those management “working meetings” where the cafeteria people would deliver free lunches to ~20 people. I and most ICs worked during lunch hour every day, and we brought our own darn lunch!
When they ramped One of the fabs I saw the spending of money like it was water. So much waste. Intel could use that money now. I also worked with many who felt that money was no object and spent irresponsibly. Some of these still do.
It seems like a trivial cost until a necessary repair that may cost less than these expenses is passed over due to budget constraints...
Company swag are just tokens to distract any young college grad. Those expenses aren't even a rounding error in Intel's financial statement. Remember the sh*tshow of Intel's 50th year celebration? Remember people waiting an hour in line for iron-on t-shirts and cupcakes? Remember how people passed out of heat exhaustion because they held it in tents outside or people with no shelter from the sun? I threw a better party for my daughter at the local Chuck E Cheese.
Remember how BK said that they stopped GPTW events so they could pool $50M dollars to throw this party? Then Bob blamed some last minute budget cuts on why the 50th Anniversary celebration s—ed? Where the F did the money go? The Intel MCM couldn't even manage to throw a proper party. How could you ever expect them to come back from a 2 OR 3 generation technology process deficit?
These miscellaneous costs are not even a drop in the bucket when compared to the "boat anchors" dragging Intel down. Cost control will not save Intel; selling assets, closing TMG, restructuring, purchasing chips from TSMC are all actions that you can expect in 2021.
BS has a watchful eye on every single cent, so don't worry.
totally small tater tots compared to the issue of CEO and executive pay
My boyfriend is a new hire working from home and he hasn't received any of those tshirt and water bottle perks.