There will be additionally layoffs waves that follow this first initial one. Don't think that when the ISP is over and done with that’s this is over. I think everyone is of mind that that’s it. Get through this and back to normal. Oh no. No no no. This will pretty much be an on going thing for next 5-10 years. But at much smaller scale. Not 15k next time but maybe 5k
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You guys are very optimistic. But we have seen this exact story play out in some other companies in the industry.
“Those who do not learn history are doomed to repeat it.”
Sorry guys. But things aren’t going to get better with the actions and reactions going on
Not saying you’re wrong, but 5-10 years is a long time in-terms of the economy. 5 years ago, Nvidia was worth $4, and look at them now. Things can change
A year could make a difference if trying to upsize and minimize the mortgage on a new house, have a kid, meet retirement requirements, etc. 2 months doesn’t allow preparation for these things other than applying for jobs.
Where have you been? This is not the “initial one” . . . Intel has been laying off for the past 2 years now. The only difference between today and the past 2 years is that the shady ice queen Christy P has tried to keep it under wraps and under 50 people per site so Intel doesn’t have to report it to the feds. She just rotates from site to site, and state to state, keeping it under 50 employees where she can, to avoid reporting the numbers. Notice how HR won’t tell ANYONE the total number of layoffs the last 2 years (not even other HR depts)? She is not well respected or liked.
@sup Imagine thinking you'll have a choice. You will be assigned more work, and you will have to bite your thumb else you're next on the ISP list!
If you survive and they line you up to take up the slack.
Tell them no.
Better to do a few jobs extremely well, than too many jobs poorly.
Good recall on the list of actions. You missed one - 2016, 10k folks were walked out same day. Don’t think intel ever did it that way again.
You guys must be new, this is how Intel has always been, at least in oregon. Fab20 shut down in 2008, factory layoffs in 2013, 2015, people movement 2022, and now this but that's just the big ones. This company is ran by mo--ns but they are smart enough to keep enough control to not allow investors to remove them.
But I have made it through every lay off and have a cool job that pays well so I can put up with this every few years I guess. Plus my buyout $ keeps increasing, once it gets to 120k I'm out
Just be ready. It isn’t over when this phase is over. In fact it will be harder for those who are left behind. More rounds of layoffs will, not if, WILL happen
Next 5-10 years is a very long time frame to consider. General economic improvements should likely help a little bit, maybe the CHIPS money as well. I would suggest, all do your best to make your self marketable / up to date on demand skills in the meantime and keep your health up.