Anybody else thinks these multiplying downgrades will lead to knee jerk reaction round of layoffs?
Considering that unfortunately layoffs are seen as a good cost saving thing by shareholders and in most of the cases they bump the stock up right after they are announced.
I'd lie if I said I was not worried.
@1xai Nepotism doesn't allow Intel to identify real deadwood.
Layoffs are also good to burn the deadwood that are massively abusing the system.
Layoffs are always seen as favorable by investors and they are easy to do so it is indeed likely that the interim CEO will consider headcount reductions of 5 - 10%. This is considered normal in big companies anyway so no one on Wall Street will blink. The new CEO, once named, will most likely review layoffs and reductions as well. This is the new normal at Intel.
Don't know CRCG employee count but affected range between 150 to 200 OR + AZ + SC (indirect impact in SC, think of it as a pink slip, safe for now but will be "focaled" out)
TMG is the boat anchor that needs to be cut.
Murthy and his rockstars will fab at TSMC
% people in crcg were impact?
It's Arizona next. Every small geo is on Murthy's radar. Will be pleasantly surprised if intel stays for another 10 years. A split up between different divisions highly likely in the future.
Nothing gooses the stock like cost cutting, second ACT is assured
What about Austin, no layoff at all?
Confirmed
Just received the news. CRCG layoffs in Oregon ans Arizona. 9 weeks to find a job or leave :)
@mbp- so they didn't predict it on the upside because of events that they could not control but they'll get it right on the downside because they have the same control?👌
@nfm - That's because the stock got past $40 on account of fake news, hype, lies and propaganda perpetrated by the nefarious clown BK. No real performance, innovation or successful product launches justified such an increase in stock price.
These firms who are downgrading Intel never predicted when INTC approached $55 several months ago. Grain of salt.
Too busy for layoffs.