Thread regarding Intel Corp. layoffs

They don’t know squat.

When asked “why did we hire ~25k people .. and now cutting employees” Christy’s answer was that was the headcount needed for the revenue opportunity we had and now we need to cut staff to align headcount to the new opportunity. Within the same year…. This wasn’t a perfect storm. The COVID pandemic gave a boost to all tech across the board from PCs, servers to GPU sales to crypto speculations as a result of easy money. You couldn’t use that bump to project the future.

Half of our apb is gone because these bozos set unrealistic targets and also defined the boundaries at the expense of employees. Otherwise why should we get 0 for 64B revenue and 48% gross margin. This is still a good result and all thanks to employees. Pat and his dream team will get millions, while we get zero bonus for the revenue and GM accomplishment. When is 48% in semi considered a bad result?

That just shows you how clueless these people are. Only 6 months ago, they were giving themselves high fives for hiring 1000 people a week. If they can’t see what is in front of them, why do we have these bozos and give them millions in compensation as captains of our ship. And now they are still in charge of who goes and who stays. instead of jetting around the world & spending time in Hawaii interviewing his idol, if Pat focused on our business, we wouldn’t be in this situation.

Worse then peloton !!!

He-l, I saw it coming a mile off. And I'm not that smart.

So we're left with 2 possibilities:

We are being led by someone who is in way over his head (lacks mental agility) OR...

We are being led by a corrupt politician.

Both are probably true.

ELT didn’t make an error in hiring. The crazy hiring was to fool economically illiterate Joe Biden into signing the chips act.

Hiring built momentum to the justification that chips act would create and protect American jobs.

Now when chips act is approved, ELT let the cat out of the hat.

Pat promoted loads mid year. Fellows etc. now they pause rewards. They knew this for ages. Regular employee in the dark.

Not to be worried! This is the same ELT that will make IDM 2.0 a reality and 4 nodes in few years just because they are good on forecast, future analysis, and execution. The have the gift of "vision".

Nothing escape these guys; we are in good hands.

Yeah, it was a cop out by hiding under the macro economic argument.

Wouldnt a CEO do enough of a risk management when they do investments.

Clearly the ELT made an error in crazy hiring. Most of the employees within the company saw this insane hiring trend.

Generally I don’t care for employees being treated like a commodity. This action is further compounded in Arizona where unemployment benefits are one of the lowest in this country.

When most CEOs of large corporations make more than 300 times what the average employee earns per year I would expect much better planning and creative solutions. Instead, the use of layoffs is taking the easy way out.