Heard teams have to cut budget by 9% additionally. Is it true?
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You just now the planners are pulling their hair out... What a terrible sequence of events for this outfit:
- Company behind on process nodes (and will be for years...)
- Pandemic demand surged right at the point where Intel products were least competitive
- Intel start to dig out of the hole, then AI takes off.
- Intel has no real AI products and customers take their scarce cap ex money and buy NVDA for data center AI.
- Everyone already refreshed their PC and heading into recession no corporations are going to refresh machines that are less then a few years old.
So, I am sure all the planners are showing some kind of hockey stick recovery in sales but take a step back and look at the world around you. If the planners did build in too much optimism... then you can count on 20,000 more layoffs in the next 18-24 months.
Normally, these decisions are made bases on quarterly results, so should happen once a quarter. But in this cycle a constant trickle has been underway that never stopped. Now, that they have got the hang of it, it will continue like this indefinitely.
When will this cr-p end ?
140 positions to be cut in CA. Out of 13,000 drop in the bucket.
By when are those cuts expected?
Provide an screenshot or I won't believe
Time to unload the fabs to TSMC and GF and focus on winning back x86 designs.
Where do you hear this rumor?
It's not just the layoffs within a BU, whole BUs are under scrutiny for wrap up.
Yup
Yes it is. Brace yourself. Also time to look for jobs somewhere else… it is better to get a job while you still have a job… just saying…