I think it runs deeper than we imagine. I’m saying it only because we should be aware that 15k people may just be the beginning. At this point, for different reasons, it’s hard to predict how things will shake up, and anything can happen. Intel may end up restructured in a way that all our jobs become threatened. In other words, if you haven’t already, start looking for another job.
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It's not just the beginning. Intel has actively been doing layoffs since 2022 when CPM was announced. They also said they needed to save 10 billion each year. I'll never understand the folks who thought we were out of austerity simply because the paycut ended.
Time to party like it's 1999
Enron some to mind.
Only 60K employees left by 2026. This X86 party is over.
Are we out the saddle yet PAT?
No, I think that they finally got some outsiders on the team who could look at product introduction time lines with revenue times versus cost of sales along with investments--and saw the truth. The previous team, made up of insiders was blind. That is what happened. This is why diversity in teams is important. You have now seen it play-out before your eyes.
We are in the full blown crisis > no really.
Anybody know what cash on hand and the bleed look like?
Something must have gone south real bad in the past quarter because I've never seen anything like this. Usually you see a slow decline and things gradually get worse. But what was seen here was a decline pay cuts, then pay restored after layoffs? Then almost a year goes by and suddenly it's all out emergency mode. This is leadership failure on a level even greater than Enron.
Frankly I think some huge save the company foundry deal fell through. Also having a bunch of defective processors doesn't help either. If you look at the enthusiast community, they are avoiding Intel like the plague. These are the people that tell their parents and grand parents what to buy.
Say more.
Correct 100%, Run Forrest Run!