Normally people are trolling on here, but now a lot of us probably think layoffs will happen.
11 replies (most recent on top)
If history is any sign, there will be layoffs. Intel only knows the easy way to cut bottom line, no matter the actual cost in the future. That would take too much work to figure out. Pat is clueless and will go along with whatever the unqualified David Zinsner says, and I am sure he will not be able to think beyond layoffs. It would not be the first time they said no layoffs to only hand them down a month later.
I read once where Intel described layoffs as being redeployed outside of the company. Ha ha haha lol
If you work for the company and are shrilling to lay off your colleagues (without knowing them or the context), it is pretty heartless.
If you do not work for the company, why so obsessive about layoffs? holding too many stocks?
@fea+1i2yVXrd -- No naive view. Pat is not going to do layoffs. He doesn't know how to fix intel and only interested in his paycheck. He knew intel results will be bad in May looking at orders (doesn't have to wait till July for regular investors to find out). He should have announced layoffs immediately after quarterly results. He should have idea where to cut fat people. He is accommodating intel optane BU employees within other groups instead of layoffs even though skill requirements do not match. Nobody is going to buy intel optane business. He knows that intel needs only 60% of current staff and lot of fat in middle level management. He is not doing anything since he became CEO. Instead he hired more people and increased total comp for all employees.
@vre+1i2yVXrd
I hate to say it but you have a very naive view of people in the C-Suite. You think Pat "doesn't want to be remembered as CEO who fired lot of employees," as if he's your kind old Uncle Pat. No, Pat doesn't want to be remembered as the CEO that failed to save Intel, or the CEO that let AMD's market cap permanently surpasses Intel.
So he'll do what he thinks needs to be done to "save" Intel, including layoffs. Pat's thing is he learned at the feet of Grove, and Andy wasn't a touchy feely guy, if anything he's ruthless and cold, after all, only the paranoid survive.
@qdb if you believe what they are shoveling in the All Hands then you are the most gullible creature on the planet
Redeployment - that be the real story!
@vre+1i2yVXrd The HR lady is another story. She really hyped up that redeployment program.
Most of people on this board expecting layoffs but don't understand Pat and his mindset. If he wanted to do layoff he would have done immediately joining intel. He knows that intel always has more employees than needed. As of latest quarter intel has 128.7k employees even though lot of groups shut down or few BUs sold. He actually increased pay scale and allowed hiring 20k employees in last two year. He is interested only collecting big paycheck for 5 years and then leave. He doesn't want to be remembered as CEO who fired lot of employees. So don't waste your time expecting layoffs. It is not going to happen under Pat's tenure.
It may happen in the short term, but will be under the guise of "restructuring". They learned their lesson after ACT1&2. No more big layoffs.
In all hands on they said no. So I can bet that they will not happen in short term