Intel Layoffs Bypass New Mexico But Hit Oregon and Arizona
@zc nice try lmao
@14h just blowing air are you
@14h Sorry, meant to state that the fabs are 'now' finding new life supporting packaging.
stupid iphone
NM is about the perfect site to be sold. Really old fabs, not finding new life producing packaging substrates.
LBT has stated he sees packaging R&D as a trap, but the site is now worth something to the packaging vendors so it seems like a win-win to sell it.
This should be meaningless to the workers, just another name on the check. The company has slimmed down the overhead cost and those who are left should be fine.
@yk So untrue
@aj Full of it weren't you
@zc You have no clue
@yk They are slimming down the site to prep it to be sold, along with the packaging R&D group.
New Mexico is allowing certain employees to "leave voluntarily" with a severance that some say is good.
One of the people I know, a manager, took the package because they were told it may not be offered if the layoffs become massive.
I know two people at intel in Albuquerque who were offered severence, one is in their lower mid 50s and is a manager, the other is over 60 years old and in a skilled job.
How many others who fit into the older workers category will be offered a payout to quit?
What percentage of the Intel employee population is in this category versus under 40 years old.
Intel is known for layoffs but why are they trying to hit the ones with a handful of years left???
Holy sh-t intel, as long as they do their job correctly just fu--ing let them stay a few more years to retirement.
And if employee cuts are to shore up Financials, have a real good attorney, a 3rs party private attorney review the Executive bonuses...
Intels stock has been doing sh---y, for at least the past 10-15 years yet the revolving door of executives always walk out with nice 7 figure bonues..bonuses...
A suspicious person would ask, why do these executives know each other from previous businesses? It's almost like they come, layoff employees, then leave with millions...
Is the executive exit bonus nonegotable in their contract to be paid out win or lose or are they gaming the company which is a clear violation of the intel ethics policy and training they force us employees to follow...
For the record the intel ethics policy states an employee is to put the company's financial gain above their own.
So why isn't it enforced on the executives who get free company car, company paid for home to live in, catered meals at work with a nearly unlimited expense account for incidentals.
Which means the Executives basically live for free while bringing in a 7- figure income while average employees have to pay for each and every little thing.
Intel needs to fix their executive compensation plan which they claim is needed but is a lie.Maybe in the 1990s early 2000s yes but not in the world economy.
Articles are being either written or produced by AI based on WARN notices.
So this one will be updated once the numbers are updated, but it does appear that NM and the other sites (not called Ronler Acres) just got relatively small reductions, because they were not that overstaffed to begin with.
Mind you, that doesn't mean they are competitive on labor cost. All the fabs operate at a labor cost which is something like 30% higher than any foundry in the US.
But that can't be fixed by reductions. It has to be fixed by outsourcing, turning most of the direct labor into a contractor workforce. About the same pay but inconsistent employment and little benefits.
That is what is coming, rapidly followed by AI and humanoid robotics.
Rio Rancho, is being affected by layoffs. In my team of 11people, 2 were laid off. Other areas are also losing people.
@hz Looks like this reduction is mostly the fabs, so seems like a big deal if you work there but actually no worse than the rest of the company had in the past few layoffs.
Now we know what LBT meant when speaking of headcount bloat.
He was referring to how the company had not only kept fab headcount but increased itm even as revenues fell and with no external customers rushing to 18A.
So all that is really happening is to fix that error. I don't see how that can get to 20k, and that is why that number was denied by the comapny.
Much larger headcount reductions coming, but that is through outsourcing and selling of the older fabs like the RR and IS sites.
News from NM and OR must be on crack. They report the wrong info. NM did layoff. OR reported out without all the data and now the data updated, they create a new headline like they are shocked. I am shocked at the poor journalism.
For those who have been laid off, this seems like some existential event, but the overall reductions are just what is needed to enable the site to be profitable.
Looks like the total layoffs are about 4k for the US, and mostly focused on the fabs, so not as big as last Fall, but more focused on the remaining area of bloat.
For the company the reductions will be going on for some time, as restructuring takes time. The company is dismantling the vertical integration which built up over the years and substrates are an example of that.
For NM this sets up the site to be sold to a foundry, as Intel gets out of the substrate business.
Not accurate.
@bm Wrong, they don't need to notify anybody. They just pay out the 60-day period.
This is a good example of how the media spreads inaccurate or misinformation. The news articles for NM and Oregon about layoff is not accurate. There were way more affected than reported by the news media.
Now take this example and think back of Political news, Covid news, and Middle East news.
WARN act threshold for reporting is atleast 50 people laid off within 30 days . Could be Intel NM is laying off less than this and why it was never reported.
Which modules seem to be hit the hardest?
Engineer here from the Rio Rancho site. This news is false. They laid off myself and at least 10 other engineers in my area, alone.
This information is totally and completely false and incorrect the NM Intel plant was and is still being affected, so this whole article is false. The majority of the ones that should of been laid off are still there and bring tools what to come into the office one more day a week? I'm sorry but if they can't fix, develope, maintain, or even just problem solve what's already going on on the three days their already there what makes you think they can do it in four?? And here's the other kicker anytime any big company/corporation is getting ready to do layoffs line this they have to give Workforce Solutions a 60 day heads up and as of Thursday of last week workforce solutions said they hadn't heard anything from Intel about layoffs. So now with this false report that NM Intel was safe and WFS not being notified is really starting to make me wonder what's really going on here
Layoffs of MT's, and Engineer movement as well as layoffs. Contracts are not being renewed of many contingent workers. Parking lot is starting to look less full since the beginning of the week. Local news has misrepresented about the layoffs. Making sure my resume is polished.
The older fabs to be sold also need to be as cost efficient as possible, so are getting some HC reduction even though many of those fabs are actually running at a high level of output at the moment.
See if the entire NM fab complex isn't sold to a package foundry at some point in the next year. It'll take some time, although I'd imagine those foundries are quite interested in picking up the substrate business from Intel, including R&D.
Rio Rancho- NM site is being impacted by the layoffs.
This article is incorrect and deceptive. I work at the NM site. Area Managers were transferred to different positions becayse their AM positions were eliminated. Each shift that had 2 Shift Group Leaders are now have 1 SGL managing the shift and the other SGLs are moved to manager other areas. A few engineers and technicians were laid off from each factory. Not a very large number of people were laid off. I heard, less than 50 blue badge employees were laid off from all factories at our NM site.
I work there. They cut a small amount of people from the older fab 11 I heard. They are not being protected or any means of that nature. Fab 9 seems like they are cutting one or two people here and there. Going to work tonight, might just be my last. But I'm fairly prepared for this.
Had heard 30% impact at NM site.
@a1 and how do you know. Just talking you are
@a6 no you don't
@a6 I don't know someone from NM but I'm sure this article is only considering information posted through WARN. I agree it's misleading.
I know someone personally affected in NM. This info is false.
Looks like LBT wants to sell glass substrate development and presumably the production as well. He called it an R&D Trap, which I presume means that the development cost can only ever be recouped if the production volumes are far larger than Intel can generate.
Packaging has always been tricky because it costs a lot to develop new package technologies, then they are often only used by 1 or 2 nodes (in just a few market segments), so become a writeoff.
Right now the 'R&D Trap' could be said for the fabs as well, but they will give that some more time to see if IFS can build something of a customer base.
So see if the entire site is sold to one of the packaging foundries.
We had many discussions about this before, they will not stay spared for too long