Intel is expected to lay off around 21,000 employees in 2025, which is approximately 20% of its workforce - ~ 105K people right now. That is a lot of people who will be on the streets. Oregon will probably get hit by 5-7K people?
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@37z Correct by all appearances.
Wow, a month later and 84k now seems like an awfully high target.
How about 75k, on the way to 40k?
@pk good luck finding folks who want to work fulltime without benefits.
@pf Of course, OP is not getting free bananas currently, so the banana situation is expected to remain stable.
@ph The transition to CW is a certainty.
It would be nice if the company could just directly shift workers over to the CW provider, but I'm sure there are legal reasons they can't do that.
So that means that a lot of people are going to have to essentially reapply for their jobs (at lower total compensation), assuming they want to continue to do that work.
Oregon will lose 3900, Chandler 1000, Ocotillo 1500, New Mexico 750, but many will eventually have been replaced with CWs. Approx 15k impacted across Europe and Israel.
I don't believe OP will be getting free bananas in the near future.
Although everyone is rightfully focused on the next month and their personal situation, it's only going to get more tenuous as time goes on.
x86 ain't getting any younger and the Board seems to have no strategy for how to cannibalize it with ARM or RISC-V. They seem ready to ride it into the ground, which means the annual layoffs will become something that happens every year (somewhere Yogi Bera is smiling, just a little).
Then there is AI and the humanoid robotics, both of which seem tailor made for semiconductor design and production. The story is that both will take jobs, add jobs and augment jobs, but what they fail to say is that those won't be the same jobs.
In 5 to 10 years, AI and robots could enable Intel to keep running till the revenue dries up, and that could be decades. How? By replacing both design and manufacturing roles with automation. Intel might be able to get down to 10k to 20k headcount, so could be profitable even as revenues collapse.
That might be the current Board strategy and why they do not worry about the need to shift to ARM or any other architecture.
Pay attention to what GM or VPs leave, because that is where the starting point is 20% and often it will go to 100% for select groups.
When execs leave, all the underperforming (or merely unpopular) projects get attacked by the remaining execs.
It's like what happens when a lower grade employee goes on sabbatical or vacation, but more bigly.
Often the execs have more than a few years in control and there is a lot of pent up demand by ELT to break out the woodchipper, like Peter Stormare in Fargo.
@a2 Way more than 20% being let go.
Wouldn't be surprised to see the finall tally approach 30k.
I think the goal is to stabilize in the 50k to 60k range, and that once given the directive to really eliminate non-productive activities the senior management got serious about it.
They knew perfectly well what was adding value (at a high level of course), but corp was never really asking for those kind of reductions till now.
This is how Andy Grove would have handled the situation.
Intel will still have plenty of issues, but just not so much of an issue with having dead weight teams all over the place. That will also mean losing good employees, but that is how tech brings it.
They should just nuke the H1B-visa workers, but they wont because they dont have to pay Unemployment Insurance, they work 10-12hrs a day for the first 2 years, and they wont have to unionize. Americans are Fuxxed over in these high tech companies, unless of course you are DEI and they want to hold that quota then you're mostly safe :P
No camps in Phoenix. It is too dam hot.
Seattle has more camps to move to.
Where did you get 105K as the number of employees. Go read the Q1 earnings report. It was reported as 97.6K down a few K from the Q4 earnings. The trend is that people are leaving on their own. Correcting you math, the end numbers should be around 77K and Oregon will easily lose your estimate. After this round only about 25K more people to lose to get to a right size for the revenue being generated.
I hear Portland has lots of homeless camps to choose from.
20% layoff? Are you sure