After CONgress passage of the CHIP Act, I say no “layoff”. They will pay folks to leave.
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20% is a low ball figure. More like 40%.
Senior heads rarely roll; layoffs in the 1,000s for the masses - yes in 2023.
What about people who invested their savings in Intel because of our government's investment on Intel fab?
The larger the binge they greater the hangover and vomit afterwards and you can be sure with the current headcount is totally misaligned to need and growth.
What a FUBAR, get all this tax handouts, big delusional talk from a fanatical CEO will result in the biggest, ugliest, and saddest layoff shortly.
The whole narrative is almost crazy compared to the CEOs at AMD, Apple, Microsoft, Qualcomm, TSMC. Seems the more desperate the more the circus atmosphere, LOL
@uww+1iiZf3Gq
The same posts in blind show complaints that the current offers are not competitive vs just a few months ago.
It’s a stealth hiring freeze where lower pay gets lower quality people.
Intel is still handing out job offer letters left and right with much higher compensation. Read posts in blind. Lot of people are still getting hired. I don't see any cuts when company is hiring aggressively.
Intel revenue will continue to erode and GM and profits will plummet.
Sure they get all this government money and as a result need to than pony up and spend huge CapEx yet will have lagging technology and smaller scale and far higher cost for that spend than their foundry and fabless competitors! Even with government subsidies and tax breaks they still need to manufacture and depreciate the fabs and will be uncompetitive.
I can’t wait to see Pat in his ugly Christmas sweater and what he says about AMD and rear view mirror and road ahead this year, LOL
AMD and Nvidia have access to superior technology, cheaper manufacturing and will ki-l Intel in any price or market share war. We already saw how bad Intel is positioned in this big bo-m market they actually declined while everyone else grew double digit. Let’s not forget how Apple has discarded them and soon AWS, Amazon, Google and Microsoft all start making their own chips and will too.
Yet Pat is double down on old 20 year old strategy, hire like crazy going into a recession and trying to fight for market share and also fighting on all fronts, simply FUBAR strategy!
It is not possible you get money from US government and have big layoff
They should — the company needs to downsize and there is plenty of dead weight to unload. Intel should hyperfocus on areas of relative strength, and send the rest packing. But they probably won’t. Pat doesn’t want to be seen as the bad guy. His ego won’t allow it. Plus the optics of firing a bunch of Americans right after getting money from the federal government to spur US production are not good.
This year is a little early but next year it will be clear how flawed and epic fail IDM2.0 and IFS3.0 is and senior heads will roll as will come layoffs are all but inevitable.