If you put your ear to the ground, you can hear the rumblings.
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Someone indeed has ears to the ground. Any update which teams will be hit hard ? Generally LTD is insulated from layoffs but looks like not this time - which I don’t understand as LTD is generally short of head counts and many managers want to hire more people.
You heard it here first.
Maybe Pat can't get out of Jury Duty?
@gmc+1tFeSWXX , good observations, I would add that having the ACM on Friday is not a good sign in itself. Delivering bad news on Friday is commonly done in a lot of companies. It gives employees the weekend to cool off and recover before returning to work on Monday. Far less incidents. If it was going to be the usual post earnings dog and pony show they wouldn't have changed the schedule.
@wyg. I would suggest 25 - 30%."There can be only one" eventually))
It's 10%-15% every quarter starting Q3
still way too little. won't even get intel headcount back to where it was when pat took over and revenue about 35-40% lower than when pat took over. need a much deeper headcount cut than 10-15%
Don't know, what was a reason to call OP All Layoffs. But I definitely know why his mother is cuming) Say hi to her, f!@got.
someone said "Pat has us hitting on all cylinders. Haha. A sale is not a sale if everyone wants their money back. Just hope the customers don't sue for false advertising.
Confirmed. SATG managers in a huddle to trim some fat and unnecessary expenses.
Foundry Services still doesn't have a customer so there will be layoffs there for sure.
They massively hired in anticipation for a project that never happened...
Fu k all Intel leaders. Your mother doesn’t teach you how to manage a big corporation and still getting huge money from the employees.
For sure. I actually heard this from our leader that there will be huge budget cuts next quarter.
The only evidence you need is shrinking revenue in the data center, shrinking client revenue and spending like crazy to get foundry set up. We have to do major CPM actions. It’s not all doom and gloom though, Pat does have us hitting on all cylinders, even though we are a mile behind the competition…..//but the car is running great. Damn bK and Swan and Murthy.
This earnings is going to be a absolute sh-t-show. Anyone with stock may want to consider selling as soon as possible.
To @gmc+1tFeSWXX comments
- This was intentional. All CPM will be completed by then with the TD wrapping up on the 31st. So, when the abysmal results come out, they can try to re-assure wall street.
- Again, intentional. See point 1
- Hadn't noticed that. Likely pushing a week and just not scheduled.
My personal expectation is how wall street reacts will dictate how large the ISP is. And, for any doubters, find a time in the last 10 years where a CPM was not followed by an ISP.
@gmc - those are pretty weak “evidences” of layoffs occurring… none of those confirm anything about layoffs
PC sales are not recovering
PC Sales Will Be Flat in 2024 Despite AI Models, IDC Says …. One problem, the research firm said, is weakness in China, where inventories of personal computers “remain elevated.”
All of this AI PC hype is just that… all hype…. No real demand for it
@gil - would be a shrewd move that would certainly push some serious hot buttons with many employees… I think it could go that route, but in collaboration with further layoffs as well.
I hear they're going to mandate every employee to RTO. Anyone who refuses will be fired without severance because Intel doesn't have enough money for packages.
I feel bad for any remote workers who qualified and didn't take VSP.
No specifics, but some anecdotal stuff:
- Earnings call delayed by one week from 7/25 to 8/1. Atypical timing.
- All-Company meeting on Friday, 8/2 instead of the usual Tuesday after. 75 minutes long instead of the usual 60.
- No scheduled “take” from the CFO.
If you specific info, please share. Otherwise, don't scare people.