Thread regarding Intel Corp. layoffs

@nf You clearly don't understand anything about what Finance actually does.

A lot of the work still involves translating cost data to suit Ops, so look to Ops for fault with that.

Finance has been working to standardize and automate much of the close and forecast efforts, which is why it has been able to reduce headcount so much already.

Probably what remains can be largely outsourced, but the total Intel Finance headcount at this point is something like 2000 people, so it really doesn't make a dent either way.

Face it, if DOGE were to have a look at Intel, they would be laser-focused on the fabs, not the support groups.

@d3 Sounds like ChatGPT can do all that today. There is no magic in counting beans, and moving it from one jar to another.

Finance makes a big deal about "close week" thinking it's like giving up a liver... the reality is that they are just watching YouTube or po-n at home, and walking their dog 6x a day. 100% of the data is automated from transactions, journal entries, invoicing, payables, acurals, etc.

judgment, strategy, regulation, and accountability 😂

@cz You obviously don't know much about what Finance is doing at this point.

80% of the remaining Finance workers are involved in closing the books or forecasting.

That will be outsourced to AI, but it doesn't just go away.

Part of closing the books each month involves a very large number of calculations to determine things like die cost, inventory valuation and all manner of factory and product metrics. All will be automated but are needed to keep the business running.

Long gone are the days when hordes of Finance people were doing what is essentially consulting work. Some of that still remains but it is far more limited than it was several layoffs ago.

Finance is not a big cost either, now down to a few thousand people across the company. It was never that big, but it has done nothing but shrink with each company downsizing.

@cg Intel could fire 80% of finance, and nothing would change. Seriously, other than counting the beans for quarterly/annual earnings that needs a human name to the SEC, there is no mission critical function they serve that can't be done via AI or outside vendor.

I think Super Dave has decided that Intel is not getting value from Finance consulting efforts. That is mostly because Finance was never in a position to do more than suggest changes, and Ops had their own agenda.

He has also been moving roles to lower cost geos and with the rise of AI, it is now possible to use outsource firms to speed up AI adoption, replacing the need for most workers.

A few will remain to monitor the results and work with the outsourcing firms, but not sure that is even what one would call Finance.

This is what progress looks like and it is coming very rapidly to all support and some engineering groups.

Any group that is being reduced by more than 20% is likely being set up for outsourcing. This is because other than TD and the Fabs, the prior layoffs removed a lot of the excess. So to reduce them by 30% is to prepare for them to be essentially replaced by AI-enabled outsourcing.

See what is happening and know that this is way beyond Intel. This is the new workplace.

the board should be replaced by AI , making unbias decision making

An AI bot would be better than the finance support we get.

Rice and beans are really good on Costa Rica.

“Finance isn’t just bean-counting. It's judgment, strategy, regulation, and accountability” - agree.

In this case, everyone in finance at Intel should be fired. They have overseen the implosion of a once great company. Outsource nothing - fire them all.

AI can crunch numbers, generate forecasts, and even flag financial risks better than some junior analyst hopped up on Excel.

Finance isn’t just bean-counting. It's judgment, strategy, regulation, and accountability. AI isn’t ready to do that. And outsourcing it to a third party is how you end up with even less transparency when things go sideways.

The empire-building EVP are not going anywhere. Intel will always run on politics and perception, not just performance.

It already does

When wa the last time you actually values your finance business partner

Add no business value

Just tell you how much you have and how much you don’t

Rarely any constructive means to us your budget

Can I at least get a good recipe for rice and beans?