I’ve been at Intel for 25 years and seen multiple layoffs and HR did need to hire staff to process large layoffs if Intel decides large layoffs needed it will happen
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In the first half, Intel has lost $2.2Billion in operating losses...
This is roughly $12 million dollars a day in losses!
Assuming a $200K / year burden for each employee, Intel would could have been break even if it had cut 22,000 workers...
So again, I ask what is Intel waiting for? chop chop. Cut the heads, build some new products that people want to buy and get on with life.
I have no problem with hiring H1-Bs... happy to hire the ones that work hard, have brains and don't whine or think they are entitled to something...
At the same time, happy to concede Intel shouldn't take any tax breaks for CHIPs act. Which doesn't matter anyway since the Inflation Act mandates 15% min corp tax (which in many years Intel was below).
All I can tell you is go to a foreign country and see how hard the engineers work. They don't complain and aren't lazy like the ones we get here now.
The best engineers are the ones that focus on skill and output. I will gladly pay them a fortune to work for me. Whiners need not apply.
Last 2 comments are right on, please get rid of the propaganda positions too with them, they’re making grade 7+ to not make any real contributions.
A simple solution starts by letting go of the H1-B's. The H1-B is a temporary work visa so the temporary foreigners should be the first to be let go. It would save money instead of wasting money on unnecessary visa fees. No American or their families should face the threat of layoff when the company has so many temporary work visas they should let go. PG testified to congress he needed CHIPS Act money to grow American jobs, not destroy American families. The foreigner engineers have dragged Intel to it's current lows and if a change is needed it's to staff domestic engineers for the American sites.
Well... a company can only do so well when prioritizing DEI and other woke ideologies and this idea of Intel family and nepotism. It's a job, treat it like one. Be more competitive. Employees shouldn't be able to login for 1 hour a day and have no meaningful progress by month end. Need to trim the fat... Maybe Pat's been reading the Anheuser-Busch playbook.
"Everything is fine. Everyone is safe.
Stop panicking and over reacting."
its all about viewpoint
the boat really is not sinking from too much weight
it's just that the ocean is rising
This was a consequence of PC market saturation.
Intel failed to diversify and now x86 chips can’t fund leading edge fabs any longer.
The men with the deepest pockets win the fab game. Intel can’t afford to stay in the game. That ship has long sailed away.
It’s time to face reality and just jettison the fabs.
Shows you how bad off Intel is... Good tech companies focus on growing profitable businesses... Bain and Intel were just moving around the deck chairs on an over-crowded cruise ship. It was all about 'efficiency' not creating lasting products people wanted to buy. That was the beginning of the end.
Worked in HR at the time and managers were supposed to have no fewer than 10 employees to help reduce the spans and levels. Definitely not the case now.
Remember when PSO was in charge and Stacey Smith hired Bain to help Intel with the 'efficiency' exercise?!
It's quite remarkable that Intel has so many smart people but Bain had to be hired to tell Intel that they had to many layers of management, that each manager needed to manager more then 3 people ... and btw, you have lots of useless people adding no value. Also, the businesses that you think you have are highly unprofitable so either get competitive or shut them down.
Brilliant work Bain, can't wait to hire you for the massive layoffs needed now that Intel is 20 years since the first time you were hired and nothing has changed... in fact, it got worse.
Confirmed
They hired Bain Capital to do their dirty work.
It's not out of the realm of possibility that Intel engages a contract-firing company to help
And PG will employ GC (George Clooney) to do GC (garbage collection). GC will come and say 'All the downsizing that you were hearing about is no longer Up In the Air'
Everything is fine. Everyone is safe.
Stop panicking and over reacting.
"HR would need help in the form of staff aug or outsourcing to accomplish that workload."
"Intel HR isn't staffed to be able to process that many people being laid off in the next ~5 months."
True both. It's not out of the realm of possibility that Intel engages a contract-firing company to help. When they are almost done, the contractor will terminate most of HR, too.
20k is not enough.
HR would need help in the form of staff aug or outsourcing to accomplish that workload.
Do you have a link of the source or your source is "trust me broth"
Intel HR isn't staffed to be able to process that many people being laid off in the next ~5 months.
You heard it first. I forgot to mention