It wouldn’t be a surprise, frankly. We’re doing really bad. I guess moving the Q2 report by week is also not a good sign. Stock value is in bad shape. Do you think the layoffs announcement will come immediately after the Q2 report? Can we really expect a 15% or more headcount reduction across Intel?
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@2qdd,,, Intel replaces their experienced higher cost employees with layoffs and replaces them with new recent college grads and people in low cost geos.
Why does Intel do layoffs? The headcount barely moves quarter to quarter……. They seem like they cannot stop hiring ….
"ELT are taking actions…" That is code for engineers get the boot and managers keep their cozy do nothing jobs.
I don't understand why Intel people still waste their times and skills at failing corporation without base raise and bonus to ki-l their future?
i remember having lunch with a friend back in 2016 when the mass layoff happened (believe it was called ACT). i had already left. i remember telling him 'in 2 years you'll look back and the people let go will be the lucky ones. they will have found jobs, moved on and not have to live through the death spiral that intel is going to go through'. i can't imagine why anybody wouldn't want to be laid off by intel. it ain't gonna get better. why would you want to spend your career in a failing, shrinking company? it baffles me why anyone would think they are lucky NOT being laid off by this disaster of a company.
If they reduce by 15-20%, as is suggested in several threads on this site, that would roughly be 18-25k of people let go. Even though Intel is easily has over twice that many unnecessary employees it probably wouldn't be a good plan to shed that many in a single move. It would be smarter to do a series of smaller cuts followed by a reorg/re-balance of the workforce to ease into the correct number of employees for the level of revenue that is being generated. However, they may have waited too long to get to the right size of workforce and may be financially forced to make the huge cuts. Good luck to everyone whether you get let go or stay. It will be a hard time either way.
I don't think it's going to be a flat % across all BUs, not will all BUs do this at the same time. It all depends on prospects and products.
15-20 yep
I think the magic eight ball is saying “Most Definitely”.
Take out another 10 billion dollar loan, because why the fu-kk not?
All the signs are there
Thank God, I've been waiting years for the chance tontake a package
Yes. Pat will apologize for a bad quarter, blah blah blah and that he and his ELT are taking actions… and you don’t need to be a genius to know what “actions” mean…