As groups get updated targets they will do additional reductions or hiring, but I think most of the net loss will be through the disassembly of the Intel conglomerate.
My guess is that the spin off of Intel Capital was a point of disagreement between Pat and the Board. Real Sense is also to be spun off, and I'd expect Mobileye shares to be sold at some point. The pace of the Altera spin off appears to be accelerating, and in all cases the bias towards action has to be balanced with getting the best possible return on each divestiture.
All this is good for the company, as it should result in meaningful debt reduction and streamlined capital needs going forward. Whatever value having so many non-core activities was, that day has long gone.
Would like to see the HVM fabs spun off as an independent foundry, with TD remaining with Intel along with whatever product groups are not spun off.
TD has the most capital needs and the longest payback on investment, and there is enough production capability for Ronler to provide the return needed, while giving latest node access to Product groups.
HVM may currently be profitable, and would be easier to fund without TD as part of the same organization.
Probably all of Floundry is kept together in the spin off, but that burdens that standalone entity with a lot of capital needs to remain near the leading node.
In any case, looks promising for Intel to clean up the balance sheet through divestitures and right-size the company in the process.