https://www.thehrdigest.com/intels-new-ceo-lip-bu-tan-signals-sweeping-layoffs-and-fightback/
16 replies (most recent on top)
@ca and you know these details how?
LBT will do what the board wants and that is sell and terminate. I haven’t heard mention but he was appointed to two jobs, one is the CEO and he was given a seat back on the Board of Directors. Michelle and peers always knew what the plan was. They just did not tell the employees. A deal is likely in the works for the split, after April 24th within a few days, a RIF will be announced and will be at least 25000 headcount, a week later standard one week per year of employment with max of 16-20 weeks and 3-6 months of insurance will be announced. He is a Board member, all the talk of rebuilding is cr-p, they just want their capital investments recouped as much as possible so their write offs are minimal. After the sale, split expect higher reductions and less severance.
@b1 hopefully zero severance this time around. Intel can't afford to keep blowing millionsssss of dollars on people who don't even want to be here.
Cut 30k, enact RTO full-time, profit.
Your kids can go to daycare just like everyone else's kids in the world do.
I hope the executions are swift.
More marketing layoffs coming.
I have seen PEs and Sr. PEs come to a meeting and say they dont have an update because they had to drop off their kids to school. Pathetic!!! Intel is in state bcoz of these slackers!
Lip should start from PE's residing in Oregon. Make every PE report daily what they've achieved in writing and how their work impacts intel. Way too many slackers I know of
@ae+....clueless id--t you are.
Being pretty Loose Lipped, isn’t he?
How much severance this time compared to the last one?
not following the merit of the report - when he became ceo of cadence - there was no layoffs in cadence for first three years or so.
Oh man. I wonder where he starts. Middle management, Directors, VPs, Fellowship, Sri. PEs, Program and Project Management. Just too many places
Fire all the robo-voters.
Also all of the Pat G cronies.
Thank god Pat is out and an adult is in charge.
Elon should give him the chainsaw. Lots of middle-manager jobsworth Bozos about to be culled and good riddance.
@ac... that's pretty cold to want the demise of others to line your pockets. The pop in stock price from this announcement will be short lived. Intel has told the recovery story too many times. You won't see significant gains until results are apparent.
Do whatever is necessary to raise the stock price so I can cash in and rid myself of Intel stock.