What will be the headcount in Q4 earnings. Please guess in your comments.
For reference, headcount mentioned in Q3 earnings was 131.5k
My guess is 125k. That's about 5% cut.
11 replies (most recent on top)
As of 12/31/22 is 131.9k. It actually increased from 131.5k previous quarter.
https://d1io3yog0oux5.cloudfront.net/_a081bf5ca0077947c7743abee8961110/intel/db/887/8894/earnings_release/Q4+22_EarningsRelease.pdf
OP here to announce the winner. It is @1iril - Well done!
according to this website intel added 10k people over the last couple of years.
https://www.statista.com/statistics/263567/employees-at-intel-since-2004/
130k. During 4th quarter 2k employees joined who had offers extended earlier. Plus most of laid of employees will be on payroll till Feb end. Intel has laid off < 5k employees so far. So don’t expect headcount to go down significantly. By end of 2023 intel headcount will be still around 122k. Few teams are still hiring external candidates.
Intel needs a 30K to 50K cut to match revenue to employee and maintain the GM target of peers.
It’s only a matter of time before they get to 75K employees, will you be on the inside or outside ?
Assuming $2billion saving is split between halting projects and headcount actions 50-50, around 5k ($200k per head) will be headcount reduction. So headcount at end of Q4 will be 126.5k.
Intel is cutting near 30k. It will likely be after earnings though. Huge exodus is leaving on the 31st. FACT.
My guess, minimal reduction. Most of the laid off people were still counted on the payroll at the end of December (and will get 2022 annual bonus)
No way the headcount reduction will result in 3B savings
@wqb, looking at it that way, I guess the exec team of Intel is also rooting for everyone to fail 😄. Intel officially have said there will be headcount actions.
I hope the numbers disappoint you as you love rooting for everyone else to fail....