It's really interesting to me how many people here believe that layoffs won't happen.
I wish I could be so relaxed and go on vacation without thinking about whether I might soon lose my job.
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https://finance.yahoo.com/news/intel-ceo-its-time-for-a-bit-of-austerity-103435040.html
Pat publicly said "this is a time for a bit of austerity," and if that's not euphemism for layoffs, I don't know what is. Pat already axed 6 BUs, drones and Optane being the most recent, the next step is to get rid of all the useless people, ICs, PEs, FLMs to VPs, that produce negative outcome.
The Q2 earnings webcast is telling, Pat had a different tone than previous ones, where he sounded positive and was cheerleading, spouting "Intel's Back!" He can't ignore the fact that he was lied to by RK, who just got a big fat promo earlier in the year, on the progress and health of the ARC program, or the reported 500 bugs that caused Sapphire Rapids to be delayed.
I'm looking forward to a SET/ACT like purging of all the useless people, as long as it's aimed at the cancerous elements, and not the remaining healthy cells.
There will be layoffs. Just look at past performances, not only at Intel. It's a specific management approach. When you want to bring about big changes, when you realize your strategies ain't working, just put a major shock through the system. All will readjust, nobody left will dare complain. Just look at how many times this has happened over the past twenty years at Intel, regardless of the CEO.
Don't let this ruin your holidays though, just try to ride the wave. If you're skilled enough you'll always be appreciated somewhere.