https://www.latestly.com/technology/intel-layoffs-us-semiconductor-giant-to-cut-23000-jobs-globally-in-2-years-to-save-usd-10-billion-amid-leadership-changes-and-declining-financial-performance-6627504.html
Probably 50% of IFS, CPU(Atom, Xeon, *Lake), TD, GPU PEs/Senior PEs/Fellows/Senior Fellows/VPs(Katti/Lingham/Sanjay/Naga etc)/Directors/Senior Directors and tangent groups not directly tied to external customers will be laid-off in next 2 years!
Spam article but Caufield is likely to break up Foundry, so that what remains can be profitable and to reduce the crushing debt level.
A 50% smaller Foundry will have tens of billions less capital needs, due to what it would take to retrofit the old fabs to EUV. Better to sell them to GF, and see if TSMC wants some too.
This reads like it's about the $10B reduction plan we're going through right now, not a new massive layoff.
Need way more cuts then that to get to break even.
I don't expect any these people to make meaningful, structural change because they simply don't understand the business.
Instead expect steady stream of disappointing quarterly results, followed by more cuts.
Another three speculative years to turn around with this small number of above 20K layoffs to save $10B again. Did you hear this over and over again in the past to bring up the failing INTC stocks guys? All will be gone by the end of this year 2025. Intel will not able to deliver any good things and it won’t able to sell its products in China and Euro because of the future trade war.
@d1+1jkq2h9xw True, no mass layoffs, yet individual layoffs are continuing, to meet target and for performance reasons. So a bit of management wordsmithing going on there.
The big headcount losses will almost certainly be due to the selling of Intel Capital and Altera, plus products like Real Sense. Maybe some of the older fabs are sold to GF.
Selling the older fabs could reduce headcount by 20-30k.
If a major Product Group were sold then that would be very substantial headcount loss.
The greatest individual risk is what appears to be a more automated HR system to monitor employee productivity. Meta, Google and Amazon appear to be using integrated monitoring and are removing employees en masse based on that.
This is a speculative article by someone who is guessing. The facts are all wrong. It was plainly communicated to us in 4th quarter all-hands that they’re not planning another mass layoff to achieve the 2025-26 cost reduction targets.
Seems low.
If that spam website is where you are getting your news, well that is sad.
Actually, we have already done 23k.
https://www.calcalistech.com/ctechnews/article/sjyy811gtye
Be careful what you read and where they are getting their facts.
One article even said "intels new CEO Caulfield"
It's rumors, he's not CEO, and there's no guarantee of what will happen so they're just click bait for now.
Isn't this the layoffs that just happened?
Guys I’m not a PE , but not all PE are useless , I’ve seen some of the best here at intel , they know there work, on management side things can be bit bloated where it needs some trimming , similarly VP level need trimming also , we need engineer and technical manager with at min 15 reportees , it will be tough for work life balance but don’t see any other way to recover intel
Yup. Over-paid useless PEs, Senior PEs, Fellows, Senior Fellows getting $500K+ compensation but doing at least 2 grades lower work (mostly PPT, Excel pushers and tracking others) and surviving by nepotism and brown-nosing.