https://www.aroged.com/2022/10/07/intel-to-announce-massive-layoffs-later-this-month/
Is this news credible, has any senior manager confirmed this.
14 replies (most recent on top)
i know an Intel manager who says he's planning a BIG reduction of his team- expect a 20% headcount reduction. But the severance will be generous
@1gls+1j99eHLe Why get ride of graphics? don’t you want Larrabee to live on? What will all those third rate village id--ts do without working on that deadend architecture?
Mr fairy tale should be polishing his resume now…. Lol
Dump the entire gfx dumpster fire.
This from The Oregonian...
https://www.oregonlive.com/silicon-forest/2022/10/intel-plans-thousands-of-job-cuts-bloomberg-reports-as-pc-sales-slide.html
Seems credible as the article's author has historically correctly reported internal Intel matters.
Nice fairy tale, OP.
Borrowing from another post….”This is what David zinser CFO said in the last quarterly call”
““ As part of these focus areas, we expect to see restructuring charges in Q3,””
“Restructuring charges” means they will take a right-off for doing layoffs. That’s what restructuring charges are used for.
This is what David zinser CFO said in the last quarterly call
“ With my history in the memory business where every penny counts, I know there are large opportunities for Intel to improve and deliver maximum output per dollar. As part of these focus areas, we expect to see restructuring charges in Q3, and I'll continue to provide regular updates on these efforts. Moving to our full year and Q3 guidance. For the remainder of the year, we expect macroeconomic conditions to continue to soften with the potential for a recessionary scenario to materialize.”
Source: https://www.fool.com/earnings/call-transcripts/2022/07/28/intel-intc-q2-2022-earnings-call-transcript/
I believe it. Shareholders are pi---d off about the stock price. Shareholders usually appreciate headcount reductions. Most companies do layoffs when the situation is dire and it helps the stock price. The new strategy is a good one and the shareholders like that.
Totally credible. And no senior manager will confirm this kind of news during the legal quiet period. It’s illegal. When the earnings announcement comes out if they don’t say anything about reductions then it’s probably a rumor. If they do say something then it makes sense.
Quarterly insights reviews were pushed to the end of October without any real explanation.
Would not surprise me in the least.
Fake news. No layoffs planned by Pat "The Messiah".
Some people on blind were saying this as well.
There are lots of hiring freezes at other companies so the timing isn’t great.