Target 75K
No paperwork needed for FPA. all manager have 1:1 with HR for their BE candidates by Feb 27.
Notification go out by March 15 of next round of Terminations. No CPM package.
A
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"Layoffs?! Don't talk about—Layoffs?! You kidding me? Layoffs?! I just hope we can stay for another work week! Another work week!" (Jim Mora, ex intel coach)
@bz Sounds like ACT 2016 all over again, they use a "formula" to find employees to get The pink slip.
@cm
I was told by my management chain that IR still existed and BE did not involve a CAP/PIP.
This is in Foundry.
This should not be true at all. Plans this year are to not have major sweeping layoffs. Maybe some small targeted ones in the flow of normal business changes. But not head count target based reductions.
@b0
BE" in Intel performance reviews stands for Below Expectations. It is a performance rating used in the company's evaluation system—which traditionally included Outstanding (O), Exceeds Expectations (EE), Satisfactory (S), and Improvement Required (IR)—to indicate that an employee is not meeting the required performance standards, often leading to performance improvement plans.
No way. Another round of layoffs.
Def Met team is safe
So, BE is the new IR? This is not what I was told my my management chain.
I do believe more layoff are coming by the responses I am hearing from managers. I hope they are not using one BE as a reason to lay off. However, I do have a feeling they’re going to use BE’s as reason and also people that didn’t come back into the office that are still hiding at home working .If they do, I hope these people get packages, it’s just cruel not to give them packages.
I assume OP is trolling (because that's what sheeple do here), but if the market downturn becomes a bear market then the company will almost certainly lower headcount targets.
There would be terminations but also some asset sales. I have little doubt that among all the other deals LBT has been working, are some to sell off lower performing or outdated assets.
Selling some of the older fabs makes a lot of sense but that is a hard deal to make happen. The fabs are smaller than the usual foundry fab, and the equipment has been specialized to fit a non-industry-standard Intel PDK.
It would cost the buyer some few billions to retrofit any of the older fabs to fit their PDK, but maybe they buy a fab and make wafers for Intel till the end of the roadmap.
The ASIC business is growing at about 50% and a big foundry customer seems about to become a thing, but all that goes to the newest fabs.
Intel Capital and probably some of the product groups which nearly got cut last time, would be up for review as well, but the big (potential) cost reductions are all in the fabs.
If there is a perfect company to use AI and robotics to lower cost, it is Intel (and other semis). But that is maybe still 5 years out, and may happen slowly, one job function at a time.
@OP So, you're telling us there might be a chance?
@bh wrong company thread. Sorry.
I’m guessing the “target 75k” means future total headcount. Given Cisco currently has about 86k that would mean a reduction of 11k. This sounds reasonable and likely, but the timeline doesn’t feel right.
It’s more likely notifications will go out immediately following the earnings call next week, at least in the US, and follow in other countries based on local laws.
It will be interesting to see what the package is.
@OP what is BE?
Sounds legit. Boss wants to meet with me. I previously told him I'm ready to go. Performance raises kick in early April so these people should be off the books by then.
Here we go!
@OP slides which forum? Or is this nonsense?