If Pat wants to send the right message to the troops, he should fire half the VPs, half the CVPs and half of ELT. He should also drop his salary to $1 per year.
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Imagine BK shirtless on a horse. Yikes!!
Intel needs to become better at execution, this means cr-p ICs, cr-p manager and then may be some at ELT level needs to be booted out… but I can tell you HR won’t act like that , I can tell you real life situation where someone was getting fired bc of bad performance but person ended up reaching HR mentioning some weird reasons and then it never happened , incase it would have been Apple that person would have been booted out same day bc of his performance , so in general HR , and below par hiring has taken edge from intel in execution, I hope elt acknowledge that soon else intel will sink …
Start with AXG they have been blowing budgets out of the water with no ROI after a few years.
“BK will come back, shirtless on horseback, for $1 a year, and finally Pat will be gone and good times and rainbows will be back forever”
- OP
Add BoD to that list as well. Old relics stuck in the 1980's with no vision of future technology.
It’s fine to keep DEI VPs, but can’t they take a pay cut? The chief people officer claimed ELT members and VPs have more compensation tied to stock than fixed salary, implying they already “suffered” more than those on the floor. Ironically, when 3B$ cost reduction was announced, ELT members and VPs benefit the most from INTC going up 10%, while thousands will lose all their fixed salary. Isn’t that disgusting?
Can't fire too many CVPs / ELTs even if they should. There were many DEIs put in those jobs. Quotas were filled. It's the strategy and execution that suffered.
Amen.
That’s the case in other tech companies. Cuts are always made from top first. However, companies that have labor vs management division, labor gets cut because every manager has a little empire. In highly technical companies management is something you do on the side and the number of direct reports is limited to under 8 up to Director level.
This is not Apple and Pat is not Steve Jobs.
So many of the leaders across many orgs have failed for so long, but they always seem to be safe.
AMD revenue grew 48, 60 and 50% (2022!!!) over the last 3 years. They are stealing the most profitable segments. Just a couple of years ago they did 10% of intel revenue. Could be more than 50% of Intel revenue in 2023!
I can only point out further that I am betting managers in many divisions don’t even know these staggering numbers. Them and their ICs are too busy quiet quitting!
I will buy them a cake