I heard a bigger badder round of layoffs is fast approaching… folks, heads up… plan accordingly because it’s gonna get ugly.
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Intel had a executive summit where 600-700 vice presidents "the politburo" discussed about "who knows what". This didn't include grade 12+ fellow/senior fellows, probably in the range of another 400-500. So many of these VPs and Fellows/Sr Fellows have < 5-10 people reporting to them.
If done right, they easily layoff 30-40% of the employees and consolidate work ownership (aka pull a Muskian Twitter stunt) without making any difference to revenue, output and improve their profits. And to make more bang for the buck, start at the SVP level and work down the ladder.
Every senior leader is talking about the inevitable massive layoffs at Intel. Losing more data center business, fab capacity in the low 50’s ……big time consultants telling us this is not sustainable. It is not a very pretty situation. We need to shed 30k employees. If done right it can be good for Intel……will be forced to focus and zbb.
"if you work for Intel assume you are wearing a t-shirt with a bullseye printed on it"
Not everyone
VPs and above are never held accountable.
Are you under 30 years old? You're fine. You're cheap.
Are you DEI hire? Untouchable.
Get ready for the new jobs to clean up toilets at AMD and NDVIA folks. Your Pat will volunteer first
NEX?
Anybody know how many are getting cut from SPTD?
Is there any for SFEG?
I heard a rumor that Intel is going to do another round of layoffs. I don't know how true the rumor is, but I'm taking it seriously and making plans accordingly. I've been with the company for a long time, and I've seen the impact of layoffs before. I don't want to be caught off guard this time, so I'm taking steps to prepare for the worst.
WOOHOO!
Guaranteed vacation 😍
MOAL
Let the managers do all your works. Is that a wonderful thing to celebrate?
Mother of all layoffs
Awesome !!! No more work. Time to play and party.
Yes, of course more layoffs are expected. The rise in employee count was explained as hiring in low cost geos/firing in high cost geos. If OP has details, they may be useful.
For the people asking for details and which orgs... if you work for Intel assume you are wearing a t-shirt with a bullseye printed on it. Everyone is a target. The company just can't sustain 125K employees on $50B of revenue which is like to drop even further. Read the comments in other threads about under utilized factory capacity and slowing numbers of wafer starts.
Here are a few charts for you to ponder. Look at the head count around 2009-10 (80k) vs revenue. Revenue is currently headed to these levels:
https://stockanalysis.com/stocks/intc/employees/
https://stockanalysis.com/stocks/intc/revenue/
of course there has to be massive layoffs. revenue cannot go down 35% and employees up 25% and think that is sustainable. intel needs to lay off about 40% of the employees to even start to look like a reasonable revenue to employee ratio. its absurd at this pt.
Details?
We have been saying this over and over, this is not a surprise.
Time to break out that 18 Year Old The Macallan Double Cask Highland Single Malt Scotch Whisky. Cheers!
That’s awesome 😀!
Which orgs?
Bain Capital finally completed their OKR
My body is ready.