It seems to work like a magic just a few months because we cut or ki-led 35K family heads.
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Spider Pat, Spider Pat, does whatever a Spider Pat does.
@rh
Pat had to make the product teams look good for a potential sale. This is where his plan was heading - Intel would become a holding company after splitting the foundry and design side, selling off a good chunk to VC's.
@192 how much for a Cr--ker Barrel franchise in Licking OH?
asking for a friend
Pat Gelsinger's Fab-first strategy was never subtle. He literally said he wanted Intel to be the “foundry for the world.” That meant:
Prioritizing capex on fabs over design tooling or IP development.
Outsourcing critical IP (UCIe PHY, PCIe, etc.) to Synopsys and Cadence instead of building in-house.
Defunding internal circuit teams or starving them of growth, recognition, and resources.
Shrinking floorspace (goodbye SC12), trimming perks (no more coffee), and laying off engineers, attrition, while still hiring in Malaysia, India, and Oregon to lower average costs.
@jd that was after they moved on from Intel. You can't blame the actions of another company on Intel.
Apple M5 fifth generation laptops are way much better than waiting for broken first generation unproven 18A sh-t at this time. Wait for 18A sh-t another 5 years at least to know if it actually works.
Go buy a Zenbook now !
You’re incorrect on the NAND people. After the spinoff to SKHynix, all were let go when that company went a different direction in their technology.
The CEO said in public that more will be hired, is that true?
OP, recheck your math. 35K is way to high and no one was ki-led. For example, in March of this year 4-5k people were dropped off the books as a result of the closing of the nand deal from 2020. The people are still employed just by another company. The same is true for other business units that were sold. Layoffs are effecting Intel employees and not the employees of Intel subsidiaries.
@ba " which will leave the rest of 2026 to hopefully restore the books and to forget the bad memories of the past"
You are assuming that the company will recover. Nothing has fundamentally changed in how Intel does business other than to reduce the head count. Without changing how the company works it will eventually run into a breaking point. The processes have to require less people before you remove the people.
November 30 is the last day for current affected employees. This will bring the head count to 75K. The next wave will be in Feb 2026. Not sure how many more will be laid off then. However, if the target is to reach 50K and fast, 12K will probably be the absorbable figure. Then sometime around June 2026, another 12K layoff will get Intel to the 50K target. This means all large scale layoffs will be done by the end of H1 2026, which will leave the rest of 2026 to hopefully restore the books and to forget the bad memories of the past.
Head count will go up and down.
When the finance books are good, additional head count will be secured for future layoffs.
When the financial books are bad, layoffs will be used as a cost savings.
The cycle goes on and on until the money is gone. Then the liquidators move in.
All senior head count will be gone and layoffs packages will be small for new hires
The new hires will be dispensable and will be the tool for cost savings when needed.
Cut output, raise prices, canadians pay for it.
No one has ever seen anything like it.
sure, we double the share price when we cut heads by half.
It's a nobrainer.