The only problem is that the wrong people will be laid off. Thin out some VPs and directors and you’ll have $$$$$ savings. There are quite a few people in my management chain that add absolutely no value.
This is 100% correct. I'm always shocked when I see managers with barely any direct reports who contribute nothing useful still standing while good people are gone. It makes zero sense, but that's Intel for you.
INTC has an impressive 22 year history of going absolutely nowhere.
Are you insinuating that the Senior Fellow (and former VP) with a PhD in Anthropology adds no value to a semiconductor company like Intel? Yikes. Intel should be lauded as a trailblazer in promoting people with no technical value into the highest technical positions in the company. "Don't be encumbered by history, go off and and do something wokerful."
As an aside, I thought Pat the wonderboy could have juiced the INTC stock more after getting on his knees for Daddy Biden bucks. I just checked INTC. I thought for a second that INTC didn't even trade during the day because it was greyed out. It turns out that INTC stock ended up the same place where it started for the day with zero gain. But you could say the same over the past 3 years. This is the same stock price that BS and BK were able to achieve in their tenures. Even with government subsidies, this is the best that INTC can do? NVDA by itself went up 17%+ in the past 5 days after their earnings report. AMD went up 30% in the week after their earnings report a few months ago.