Remember when every college senior used to dream of getting a job at Intel? When getting a job here meant good pay, great benefits, good career progression, and most importantly job security? People knew they were set for life if they scored a job here. Now we're mostly a second or third choice, a stepping stone until they can get something better. Talk about a major shift...
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As a hiring manager I can concur only 3rd rate graduates go to intel the past decade. Why would anyone intelligent and ambitious be so stupid to join?
Pat has his reasons $$$$$$$$$ as do many VPs but rank and file are far better elsewhere
Things were good until 2000, but then post-Y2K trough of tech spending plus the tech bubble burst plus 9/11 sank things and the company hasn’t fully recovered since then.
Underperforming the S&P500 over that time.
Thank your share buybacks and not any actual growth. Buybacks just increase debt obligations that must be met down the road. The reckoning will come one day…
@1hsx+1bs17IJv um... the stock price was 60 twenty years ago. It went DOWN over twenty years and stayed down.
OP... I didn't know that "set for life" is defined as "get laid off 15 to 20 years down the road once you've gotten too old and expensive for them"
My first job is at Moto, in year 2006, at that time, every one wants to work at Moto. I remember at that time even Moto is not as toxic as Intel, my boss is a very decent person and full of skillful and helpful teammates.
and yet their stock price is up 77% over the last 5 years and holding fairly steady.
It is well known fact that all the competent people have left Intel and only the worst new grads interview there.
Intel will still throw big bucks to headhunt senior management but all of them join to milk the company for a couple years with easy WLB to rest and vest before moving on. Even talented new managers know they cannot fix or do anything with such utterly incompetent lifers working with and under them.
Intel also the most toxic company to work for
https://www.hrdive.com/news/52-of-tech-employees-say-their-workplace-is-toxic-study-shows/543325/
Intel doesn't even register on the top 30 most desirable tech companies to work for according to various Blind polls.
That was when Hootie and the Blowfish and Counting Crows were considered up and coming bands. Intel stopped recruiting at the top 5 engineering colleges in the US around the late 90s.