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Let's see...$23.4 Billion common stock, Market Value down 5% - that's 1.17 Billion up in smoke.
Long Live Itanic, so glad I'm gone.
X86 continues to contract, modems, memory and IoT are all commodities with many lean competitors who are willing to compete even for a few dollars per chip.
Intel is betting on selling cloud cpus to FB, google and others. You think the billions they spend that feed intels billions profits make them consider ARM which is cheaper and more efficient?
The scale has enabled TSMC and Samsung to now match intel process technology and will soon surpass them as they are hungrier and have competition and huge scale for investment. Intel continues to shrink, sad state for what was once a great company. So much opportunity lost and now taking water like the titanic, it will surely sink.
Took ERP, new job with pay increase. Feeling sorry for all you who stayed. There is life outside.
Intel has increased restructuring costs by $700m. The $1.4bn restructuring costs as part of #ACT led to 12,000 job losses. So extrapolating this 6,000 is a reasonable number. Stacy the outgoing CFO said this will be more weighted to #Europe and #McAfee divisions. This does not bode well for colleagues in #Munich, #Nuremberg and #Duisburg.
Source?
Interesting article on re-structuring costs:
http://www.marketwatch.com/story/the-intel-money-pit-renovations-cost-more-no-results-in-sight-2016-10-18
"At least, that is what Intel says now. The continued growth of the restructuring charges, along with less-than-stellar results from the next-generation businesses it hopes to rely on in the future, instead feel like the road of another mature Silicon Valley giant, Hewlett Packard Inc. HPQ, +1.28% , which just keeps adding more layoffs to the pile amid massive changes in a business that just can’t seem to provide the growth investors would like."
Sure, they could cut more, but they continue to hire RCGs and URMs as if there's no tomorrow.
So the cost savings reason is only partially true.
I thought bk said there wouldn't be another ACT but the post on examplesaid it's priced in
Bad news for Germany
Zero for me, darn it!
-vwy
What is the bonus ?
I don't work. I ERPed. ;) Thank GOD.
-vwy
Nothing to see here. Please continue your work
How about posting the info here, OP.