We all know it's coming, and we all know it's going to be brutal, but do we have any idea when it will start? How long will it take for LBT to determine exactly how many people he wants to get rid of and from which areas? Will it be a month? Six months? A year?
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@jc, what nonsense. So in your opinion we should either be working frantically, or worrying about layoffs, but not both at the same time? Seriously? I take it you don't believe people can walk & chew gum at the same time, either.
if you have time to worrey about rumors then you arent busy working to help thing become better.
Intel us a great company to work for. The company and stock will only go up from here. Come join our great team.
Just get ready and find your local food bank and unemployment office. You don't want to be the guy selling you 401k because you didn't want to be embarrassed standing in line with homeless people.
If LBT really wants to foster an engineering driven culture, first show us the demographics of each grade level, ICs and managers, in the States. I bet it doesn’t align with the demographics of overall Intel American employees, way off, especially PEs, Fellows, managers, directors, VPs, which are highly skewed towards some specific ethnic group. That’s the engineering way to root cause the problem. I don’t believe one ethnic group is more capable than others. Intel’s problem today is mostly due to leadership with poor vision, strategy, and execution. If most of our leaders are from one ethnic group, it’s unhealthy. Hold them accountable.
Jaguar Shores is needed now!
End Indian nepotism ASAP
I heard that the layoffs will be announced the day after earnings. Plans are already in place
For a back to work of atleast three days. I do not think CP had the stomach for what Is coming next. Brutal but necessary times ahead.
Tariffs are expected to slow the global economy, and particularly in China, where Intel (until recently) did about $8B in revenue.
So expect LBT and the Board to go even bigger than previously, as they will want to get ahead of the profit margin impact from declining revenues. The whole sector is affected but Intel is already in a weak position because the company failed to do enough in last years CPM.
Everyone knows the issues so no need to regurgitate that yet again.
The surprises may be to product groups which are shut down or sold and the possibility of some fabs being idled or sold. The company has a growing excess capacity issue that can't be ignored.
On the plus side, it looks like Apple is a 20% investor in what appears to be a JV about to be finalized with TSMC. This would lead to some Apple wafers for the EUV fabs.
But the non-EUV fabs need to be divested. They still have a lot of value to GF or another lagging node foundry.
@a5, well said! Agree 100%! Dinosaurs like GRADE10+ shd get at least 50% cut. They r making $400K+ but can't save the Co going bankrupt! They bear the most responsibility! Also, end favoritism and Indian nepotism! Everytime there is layoff, only non-indians are targeted by the Indian managers/directors!
The smart fellows have already jumped ship.
Hopefully some of the Indian nepotism’s reflects will be reduced. One can always hope.
Remember Intelbus to 809 lb gorilla, they pound sand into chips
Last time someone asked this question it was 8 paychecks left. Now it's 6 paychecks.
If Q1 results are bad, layoffs will quickly follow to show investors things are being done.
LBT will prefer to selloff of businesses instead, generating revenue and offloading employees to the buyer.
PG was soft at layoffs and this caused other problems.
@a5 , it doesn’t work like that , yes to reduce VP, they will be offering some package but they just can’t fire executive that easily , reducing PE blindly will be like shooting yourself on foot, it needs to be surgical firing and not a blind one , we don’t want to cripple existing projects and be light years behind the competition which will be point of no return for intel
He should start with firing people in leadership positions, i.e. PEs, Fellows, directors, GMs, VPs, for more than 5 years. They should be held accountable for Intel’s situation today. If they couldn’t lead us to victory in the past 10 years, don’t expect them to lead us to victory in the future. We need new leaders.
No body knows the exact answer but I believe we all can make an educated guess…
First of all any non-core business will go, second it will be right sizing the team which will also include performance based layoffs …. In the process some vsp and second round of retirement cases may also trigger in … but hard to know the exact time line , in the background attrition rate is very high as well.. so give or take we will see intc headcount going down by considerable number by year end …. We will all expect first round of layoff to start when q1 results are announced , in any case everybody knows his/her situation very well and may be already looking for opportunities outside or sure of there credentials/team to survive this layoff ..