This won't be the last rodeo of layoffs. And sure it won't come from ELTs pockets. I'm expecting year round CPMs next year
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@zdq+1tRH63jo... I think that your interpretation is wrong. They weren't reiterating previously announce savings goals. This is a new target and any previous savings are excluded. This is $10 billion dollars in new cost cutting measure in 2025. Just like the >15% job cuts started as of 8/1 and previous cuts for this year aren't included. The whole situation at Intel is much worse than anticipated. Along with the economy tanking with the job market tightening up significantly this is bad... really, really bad.
The economy is going down.
There won't be much demand for intel products on top of the poorly run company. Expect more future pain.
The wording I recall is that they aim to trim $10B by the end of 2025, but that goal has been around since the late 2022 cuts. And $3B of that was already acheived as it was one of the goals met in our APB metric. 15% reduction is about 19,000 people. Not sure of salaries in Ireland, Israel, or Costa Rica, but assuming US based, with benefits and overhead, it's safe to assume $150-200k per employee. At most this newest layoff will save ~ $3-4B. This plus the $3B already saved from last year means we have another $4B ish to go. Then the dividend cut saves another $2B....so we need another $2B, which certainly could be another layoff next year