Yes, you read that number correctly; Lip-Bu is reportedly of what amounts to half of Intel’s workforce in a bid to pull the company out of its downward spiral. And this downward spiral might be worse than some imagined; reports suggest the firings will be done to “…save the technology giant from a possible bankruptcy.”
https://www.tipranks.com/news/intel-stock-nasdaqintc-slips-half-the-workforce-laid-off
Audited 100s of tech companies. Intel was the only 1 where 100s of employees pigged out in front of PCs watching Netflix. Don't know anything about this new guy but if he brings the Asian way of working, the work shy are in for some rude awakening.
yes get rid of DEI hires first, starting from LBT's ET team
Approx 10K expected this month with last day of June 30th
Holy sh-t. All those people fighting for the same 6 jobs. WOW Intel folks are fu---d. Be sure to thank the retirees. Their hard work and life’s long work got us here and they deserve your worship!
When is the 50% layoff announcement coming?
Fire all those people, Fire them!
They are not like us!
Wait, so we are blaming DEI for the downfall? Come on guys, 95% of the hardware eng. departments are led and operated by white and asian men. Anyone who works here knows that.
@vg+1jpww4enb You are not the VP of anything.
No VP posts on this board, it's mostly just a bunch of stupid 20-something fab techs.
I'm an VP in a Product Group and just got debriefed by HR. Yes, its happening. The most shocking part was that historical preferences will be suspended during this round. That means no protection for DEI hires. HR lady was very open on the call and didn't hold back. She told me that "all bets are off" and used the words "blitz" indicating once it hits it won't be like the historical multi-month affairs but more fast and furious.
Intel was the only company where people were watching YouTube all night. I've audited 100s of companies. The intel employees are in for a shock. In Asia, every minute of clocked in time is accounted for.
Good, I hope 50% of magrs get laid off, they don't do anything and don't know their a** from a hole in the ground.
You're d-mb as sh-t if you believe that.
The DEI hires will all say, "Doan be gibbon me no Lip!"
So... which business groups will be sold? CCG? NEX? DCAI?
Everyone knows that Intel needs to reduce the headcount to at least 60k to be competitive. After this needed reset they can hire again, if and when when growth occurs.
That would be legendary. Laying off 50 thousand people would be like a bo-b going off in the tech job market. I wonder if other corporations would follow
all a bunch of rumors and fear mongering at this point. keyboard warriors show some receipts or stfu
Confirmed. VPs now being briefed
"He should start with fab28 israel 1st."
For the love of God please.
Fire all those who are consistently in more than 15 or so meetings a week unless you are in sales calls with customers or something critical. Anyone else is not doing real work if they are attending too many meetings
If Lip Bu has the guts to do that, there is a good chance that Intel will be saved.
I'm so so tired of chatgpt rumor articles.
Ann had created a bureaucratic and slow moving organization with bloated headcount all stuck in analysis paralysis. She had disempowered the organization with her micromanagement style while could never see herself in the mirror. Only trusted people who su-ked up to her including some old timer who played key roles in demise of Intel's process technology leadership. TD is going to become a more efficient, nimble, and competitive operation.
Weed and grass, which ones to cut?
Zero packages too! Time to turn this sinking ship around!!
Nobody wants Intel expensive, complicated fab process. The TD/TMG/IFS shd be disbanded to save Intel name! Layoff all the grade10+ and have grade 7/8 take over and that will save billions!
IFS(OR, Austin)/TD(OR, Austin)/TMG(OR)/CMO(OR, Austin)/Packaging (Chandler, AZ)/Atom(Austin, TX)/Xeon/CCG/Bangalore/NEX/NXNE(Sachin Katti, Srinivas Lingam) teams are most incompetent, arrogant, unfriendly, bloated organization/people in Intel! At least layoff 50% especially PEs, SeniorPEs, Fellows, Senior Fellows (especially in Atom, NEX, CCG) who can't get any job outside Intel and survive by nepot$sm, favoritism and brown nosing!
Lip-Bu is a butcher, He will sla-ghter all the free eaters and cow milkers.
He should start with fab28 israel 1st.
Stock up sharply on the news.
Could hit $30 again once it is announced!
Please fire all the ones are stuck in the past,don’t burn the good one just weed out the useless ones
Pump and Dump, Baby
Should get rid of all the people who's only job is to ask for status updates and pass them along upwards
@a4 .. no, Tan not will turn Intel into a democracy kkkilling fashhist pewtin loving kkkrappp fest.
Is he gonna do what Elon did to Twitter?
Get rid of all first line managers. What is it 10K or more ? Worthless pile of cr-p
That's why Ann was pushed out, because this is mostly going to come from TD and the fabs.
She continued to use outdated headcount models, which are not suitable for Foundry.
I've posted this several times but I guess people will just need to see it to believe it.
Most nonexempts will be converted to contract workers or terminated in many cases.
Most exempts will be terminated and those that remain in OR and AZ will work in a centralized operation where they will serve all fabs at those sites and no longer work for a specific fab.
Billions to be saved in these changes but Ann and fab management were resisting, so some of them are likely to be pushed out as well. This is also why Naga was promoted to lead the entire effort and Navin was pushed to backend.
May we live in exciting times!
This is a highly, highly conservative estimate.
I read in Science magazine two years ago, when he was on the Board, that Lip-Bu has been working on miniaturized clones of himself which require a only grain of rice for sustenance, and can build the holy living he-l out of a wafer.
He’s gonna run Intel basically by himself.