Thread regarding Intel Corp. layoffs

People complaining about CEO pay have no real clue. The alternative isn’t that the money will go into your pocket. It’ll go to wall street.

As for announcements, a birdie told me that all will be revealed on thursday, and that we aren’t hearing more only because we’re in the quiet period.

Pat will renounce his hiring bonus? Not sure what you are smoking. This entire circus to layoff massive headcount’s is to get his bonus.

He will layoff people —> margins will improve -> when margins improve stock price goes up -> Pat gets his stock bonus

you "can't get any work done."?

when is the email with $$$ expected?😋 Can't wait for it

I think PAT is going to announce next week that he will renounce to his 170M hiring bonus in order to help the company and be in solidarity with his dear beloved employees.

@zsg+1jljHY6D, the rehire option will never happen. It's just a feel-good message. Trust me on this one. There is so many ramifications by doing this.

All groups have closed their open reqs for the most part and this was part of the plan since once they start informing the affected people, there is no need to expand 1 or 2 months for people to look for something else within the company.

These are cuts are driven by zbb'd logistics so they can also use this for tax cut purposes so in reality there is no need to expand or transition anything as it will be just dropped in the meantime.

Also, they cannot give the stakeholders the "confidence" level message if we don't execute right away on these cuts. We already missed the marks on our regular business and the last thing PG needs is to also sc--w up on executing on the cuts.

I guess the one silver lining will be that people being affect will have a re-hired opportunity in the future if their function gets above the ZBB line and this will be very different from the 2016-ACT where employees were just treated like cr-p, and it was one of the darkest hours for Intel history so far.

How long? Until bottom line is met. This could go for several quarters. First cut will be right after earnings next week. Second cut will be in Q1 and then more in Q2.
There is no point in sweating bullets since it is not under your control.

So layoffs right before the holidays? Probably not. Probably Q1 us who knows with this team of people.

HC targets has been selected already and this have been on the works for the past 5 weeks. All the details have been worked out and we are now on the execution logics phase. Nothing can be share before the Q3 quite period ends which will be next week but after that, it will be a tsunami of details coming out from each group.

Each group has already set meetings for the first weeks of November, and they will go over all the details and next steps.

Groups are now waiting for HR to finalize the micro schedules, but most likely mid-end of Nov will be the execution (no pun intended) timeframe.

Agreed with OP that PG may dance around the specific details BUT, there should be some figures on his message on the overall targets on how much cut will be done at Intel wise since he needs to be clear on that point as part of the Q4 and plan 23' speculation and expectation for the stockholders.

Does anyone know at what level the decision will be made ? On what criteria ?

Prep for interviews instead.
Much better ROI.

I think that by the time the meeting has happened, the layoff will already have occurred.