The title of their article is: Spectre of layoffs looms over Intel following dismal sales
The blurb underneath? Shareholders gotta get their dividends somehow, right?
Telling it like it is. We could do without layoffs and try to get our earnings up another way, but shareholders don't like to wait and they want their piece of the pie right away. Sad but true.
https://www.theregister.com/2023/05/09/intel_layoffs_coming/
what is the timeline of the next layoff ?
Redundancies you say? No worries, A new company Department has been created to address this issue!
The Department of Redundancy Department
The company is so old, so large and so full of useless or redundant departments, processes and procedures that a massive reset is required. and yet, the HC is higher now then it was one year ago. The company isn't cutting fast enough.
Intel has become a welfare provider to its bloated employee base. There can’t be enough work for the approx 130k employees to be busy. This creates inefficiency when those employees try to look busy by creating unnecessary processes and procedures to justify their existence. Like most of America, Intel needs to get lean and shed the excess weight which in intel's case is employees.
i no longer work at intel (left about 3 years ago). i find posts like this entertaining. clearly the owners of the company (that's what shareholders are) want a return on their investment, or why hold the investment? employees that complain about paying a dividend to the owners of the company apparently don't understand that intel is not a charity, its a business who's purpose is to make the owners of the company money.