Make a prediction and tell us what you think about Intel layoffs? Any chatter, news or rumors?
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@5aeke+1dLmswYE -- As of last quarter earnings 128k employees + 2k employees hired during this quarter so total 130k.
Intel closed at $26.97 — it just gets worse and worse, yet no mega layoffs ala SET or ACT yet. How long can they carry ~120,000 employees with the stock tanking and big profit margins evaporated?
It’s a shame this is happening. Hopefully those of you far-away from retirement are ready to find alternative employment.
@59nry+1dLmswYE - What is BCP department? I am ex-intel. It would be good if you can elaborate and how many affected.
Laid off entire BCP department
No layoffs under messiah Pat, only hiring period...
Silent layoffs. Moving your job from one team to another team.
The factories are quickly ramping down production and idling equipment to save consumable cost. At the same time construction continues at existing and new sites worldwide. It will be interesting however I believe some level of VSP is to be expected.
Things are sizing up much like they did before ACT. Employee numbers are again high, part of Intel has been sold off. Many middle level management positions are being created, the automation continues to move employees out of factories.
We are hiring big time.
No layoffs this year, 2023 will be rough though.
With hiring at 1000 a week(according to CP & HR) + old management exiting...it is a recipe for disaster. Some of this middle layer hold tribal knowledge. Maybe that will not be needed after June 2022...if newbies ramp fast.
"a mass exodus of the current aging management"? If it is just aging, why would it be a concern? If experienced people retire early. be them in technical or management, would that be concerning?
Early retirement packages are in the works for management layer in 2022. This should trim the fat in the 2nd layer of management according to HR's stats. This one will be tricky as PG might not want a mass exodus of the current aging management.
Yes, but not at the gr7 and below. 2022 layoffs or redeployment like PG mentioned will be in the top heavy gr9 and above with data on who is technical vs powerpoint BS'r.
A lot of deadwood picking up paychecks for doing nothing and just talking.
Mother of All Layoffs in 2022
HR is in a quandary on how to selectively give packages to 60+ers time passing at Intel towards retirement vs. not cause a mass exodus by non-60+ers.
Watch tomorrows PG & CP jo--t townhall at 11am pst. All your layoff questions will be answered or spun nicely for you to decipher and ask questions.
Once your job titles are slotted into 80 new titles, AI takes over with Insights data and the fun begins.
no layoffs- HR will be soon announcing new benefits all aimed at long term retention your mgrs will share these enhancements--site wide could include roasted loose peanuts in the cafe for free along with fresh popcorn- bottom line our CEO does not want any more layoffs.
Have patience
Raja's slides suck. Since PowerPoint quality is the best predictor of someone's career prospects at Intel he's probably on the way out.
Unless Pat can snag some of that sweet sweet infrastructure money, we’re going down boys. A layoff would get you unemployment so yeah, cross your fingers.
@1eqo - Yeah, he brought Intel the secrets to making awesome powerpoints
AMD letting Raja go to Intel is their biggest mistake. He brings all the secrets to Intel.
RK will definitely be a good riddance. What a pile of fluff.
AXG lead by RK is going to get hit pretty bad for sure. With GPU a huge flop, delays and yield issues...AXG will get the axe.
Proof = RK missing in action for many days. Prolific tweeter went silent as of last week. At the ON conference last week all of PG's direct reports were at the round table key note except for RK!
Layoffs are all but certain, is it You?
Layoff is very likely happen with new CEO and CPO in placed in any fortune 500 company.
Here's your hint: the closest competitor has about the same market cap with about 1/10th of the headcount.
Why ask about hypothetical problems when there are current problems to address? What more can be done than to help those around you succeed and spend wisely?
Actual layoff knowledge is welcome, but stuff like this is the equivalent of crying wolf.
I predict that I will never ever go into the office ever again.
Cool story bro
Gross margin of 52% of 74bln of revenue is 38.5 bln gross profit. You take out 6 bln SG&A expenses (this is about what they have been spending the last couple of years), 26.5 billion of capital expenditures and 15 billion of R&D you end up burning 9 billion dollars of cash for the year. If they actually pay their dividend, that will be another 5.5 billion for a total of about 14.5 billion dollars of cash used up. That is a very risky situation to be in
The layoffs will come very suddenly when you least expect it!!!
Here in TD we're hiring like crazy. If there are layoffs coming, they are far enough away in the future that one needn't be concerned about them.