Now as we face a terrible economy, we have the added burden of 25k employees hired during the pandemic. Now that the reality is dawning on him, he will be forced to cut at least 15-20k and possibly more over the next 2 quarters.
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Well him and Chief people officer need to take the hit for this!
They will probably fire the older experienced employees and just recycle the process started with act…..downward spiral
OP -- You know that intel is still hiring. Still after slowdown ~70 new hires per week joining intel and lot of offers are being extended. By end of next year there will be > 5k employees on board.
Massively increase capacity into a semiconductor glut.
What an amazing management team!
These clowns thought that the pandemic demand was a new normal instead of the obvious demand-pull forward. Sorry Pat, but PCs aren’t coming back and are under attack by AMD, Apple and soon Qualcomm (with a TSMC tailwind).
GPUs aren’t selling due to massive oversupply of discarded mining cards.
Intel can’t sell any new CPUs so they are rebranding Alder lake skus as 13-series.
It’s going to get real ugly , real fast folks.
And most of those new employees were given higher salaries and titles because of the hot job market. We hired rejects and gave them promos.
What clowns are our management.
Another mistake adding 25K plus employees while we are in the saddle (been here for over a decade Pat) take that for what it is worth 30 percent of employees need to be let go prior to end of 2022 there is no other way forward.