I read some media articles in which PC slowdown is highlighted as the biggest reason for the cuts, and I know that there are people who really believe that this is the most important reason for laying off a huge number of employees. Personally, I don't think so. You?
4 replies (most recent on top)
@1hlq I saw "moonshot" LoL. Intel's moonshot is "let's go up in a questionable hot air balloon and smoke some crack up there"
Just put yourself in Pat's shoe. What would you do, when macro environment is as tough or going to be as financial crisis 2008. Sales are dwindling. Pay of employees was just raised. Gross and operating margin falling off the cliff. Stock cut 60%. Huge capex planned during next 2 years. Competition is hot. Its a perfect storm. There is no way out other than closing moonshot projects.
During Covid PC sales exploded as kids and adults learned and worked from home. If you didn't see a slow down in PC sales eventually coming, you don't deserve your business development job. It's my belief to main reason for pending workforce right sizing (how's that for politically correct BS) is that Fab investments are far out pacing revenue gains in the PC and data center business. I think Intel's long term strategic mission remains solids; however, their cash management and ability to manage the short/long term cash needs could be much better.
Another example of a genius employee.
/s