It's official... here we go..
https://www.reuters.com/technology/intel-ceo-pitch-board-plans-shed-assets-cut-costs-source-says-2024-09-01/
14 replies (most recent on top)
Ok u can all get out of the saddle now and apply some prep h good luck 🍀
On Going Concern in the clear horizon !
Read the charts and stars cause your GPS has failed !
@1wou+1uixMej4, no he won't. This all needs to be done. Actually, if PG would have done all of this (head count rightsize, spin off non-core businesses, focus on core business) when he returned in 2/21 rather than waiting 3.5 years this company would probably be successful today. The problem now is that he waited too long and it is probably to late.
Watch out, pat will be fired on the spot during the board meeting.
pat is going to put in his last pitch to save his job (not intel as it is, that's dead and has been for years). the investment bankers in the room (goldman and morgan) will undoubtedly advise the board that a complete break up is needed to save any part of the company. they don't live in nostalgia, delusion, pride or religion like pat, they live in $'s and cents. pat will be out and a break up specialist in (which is what intel needed 7 years ago instead of allowing pat to bankrupt the company before doing the inevitable).
Oh NO. More bright ideas from PG. Is the board really going to listen to Pat? Why hasn't he been fired is beyond me.
I am curious about the automotive group. Intel has no chance to win anything in automotive with Qualcomm and NVIDIA being strong player. In addition, China is moving to RISC-V. Why is JackW sitting in China and wasting Intel's money. Why does even this group exist when money is tight. What is wrong with Intel that talkers can keep surviving and waste time and money.
I really think Pat is on his way out. I don't think he will be around to face this music...
Bottom line folks...there are about 40K+ more job cuts coming. And who would want to work for this company after this? My advice is to get out now..and grab the popcorn..it will be epic....
At least Intel finally moving with velocity.
@rgi they were clearly lying.
Things haven’t been fine for a long time.
It was going bad for a while before this. If you recall, DZ made all kinds of changes to the accounting process (i.e. depreciation) to make the numbers look better.
I think this really kicked off in 2022.
Torrid pace it is…
Wow...just wow. It's surreal just how exponentially things are plummeting. Q1 was "decent" in Intel terms, Q2 was horrid, and now it appears there won't be an Intel by year end at this rate. Crazy.