Hold on to your butts
https://www.reuters.com/technology/intel-plans-cut-thousands-jobs-face-pc-slowdown-bloomberg-news-2022-10-11/
15 replies (most recent on top)
75% of management needs to go.
Interesting timing — the layoff can be described as a response to industry-wide and macroeconomic developments, but will likely include reductions that reflect Intel-specific problems as well. That could mean big pain to Intel employees while simultaneously immunizing corporate Intel from criticism from their federal financiers.
Holy $hit. This is really happening.
u negative nellies realize you are not safe either correct? Ill-wishing your neighbors.
Karma
At least you work at a top tech company, and your skills are top-notch. You can hang with the big boys in tech, right? You must be in demand.
How many layoffs will Intel have? I am guessing at least 20%.
PC Shipments Plunge Nearly 20%, Steepest Drop in More Than 20 Years
https://www.wsj.com/articles/pc-shipments-plunge-nearly-20-steepest-drop-in-more-than-20-years-11665442764
US economy will soon start losing 175,000 jobs a month, Bank of America warns
https://www.cnn.com/2022/10/10/economy/jobs-recession-unemployment/index.html
At least 50% layoff is needed. Best way is random selection - including CEO.
Otherwise id--ts decide who should be laid off.
From the report:
The layoffs will be announced as early as this month and some of Intel's divisions, including the sales and marketing group, could see cuts affecting about 20% of staff.
Just trimming SG&A. Probably not much in engineering. Makes you wonder what value these people actually bring to Intel if they can sustain these large cuts?
Pat's betting the farm on new products and fab technology.
5 nodes in 4 years.
It might have been a bad strategy to spend all year watching the news, believing in Pat, seeing sales down every quarter, watching the whole silicon industry slide all year long, and hoping to sneak by this 'downturn' without getting canned.
"Game Over man, GAME OVER!!"
Time to get off your sorry a$$ and start doing something. You been sitting around doing absolutely nothing for last three years and wonder why you getting laid off? Come on, be real. Government can't support you forever.
Wake up bi----s. Here we go!
https://www.oregonlive.com/silicon-forest/2022/10/intel-plans-thousands-of-job-cuts-bloomberg-reports-as-pc-sales-slide.html
I don't understand why people were denying this was going to happen. In Q221, we had $18B in revenue, $5B in profit, and like 112k employees, in Q222, we had $15B revenue, lost $0.5B, and had like 128k employees.
Just years of complete mismanagement from BK, Bob Swan, Pat, and many others.
Wonder if Pat is getting an angry call from Biden. This can't play well before the midterms, the company he just signed billions to, and the guy he invited to the SOTU is firing tens of thousands.
No layoffs possible under Messiah Pat.
You kept waiting and waiting and soon you will be without a job, and nobody is hiring. Your RSU's are also worthless. You id--ts.
It's about time. Don't let the door hit you in the way out. Don't call us looking for work. We don't need you. You are no good.