2016 : 2010, Intel gets lazy and doesn't execute. Falls behind competition. Pandemic hits, companies buy as many PCs as they can find, even Intel based machines. Intel gets new CEO and the hiring and arrogant bravado ramp up. Things looked rosy, but it was an illusion. Underlying problems didn't go away. Economy overheats, inflation ensues and Federal Reserve starts hiking rates. Revenue declines. Margins decline faster. Tech industry starts laying off. Intel has to knee jerk and layoff almost as many as they hired in 2021. It's sad and embarrassing and the entire sh-t show was very easy to predict.
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Mostly true and if so, this explains how the culture is creating a constant decay in execution and innovation.
The key observation missing here the rot in the leadership and management culture at Intel. First level managers at Intel are mostly sociopathic slave drivers with not decency. Very few, if any, of them have the trust of their followers and the authenticity needed to be leader. Compound this with the annual promotions the executive leadership grants to itself every year. Whenever there is a small uptick in revenue, the leadership at the GM and VP level and their immediate minions promote themselves. In the time many have awarded themselves compounded raises at 2x and 4x, the rest of the company got a 2% annual rise. BK is the ultimate symptomatic of this diseased body core at the exec and middle management levels.
Did anyone see a dolphin?
30k total layoffs will be needed.. then more when revenues never recover ..
This is pretty dire situation.
They need to layoff more people than they hired during Pat's honeymoon.
What do DEI and ELT mean？
@ril+1jLxHNeN When you disagree with a post all you do is hurl insults or assume some motivation without backing. You never address the claims made. Maybe if you came with some arguments of your own you might convince people of some other point of view.
@itg+1jLxHNeN. Agreed BK is probably the worst ever CEO. ACT2016 was a complete disaster and the company never recovered. His acquisitions were mostly garbage.
I stand by the bitter short or trolling hedge fund dude who is rooting for Intel to fail. We see right through you.
You missed the point entirely. The DEIs on ELT are not experienced or competent in understanding the PC business. This is one root cause to failed forecasts and execution. Now, explain how these people would have ever been hired to ELT with no background in tech if they were .NOT. DEI. Please, go ahead and try.
Ignore the facts and deflect by venting rage on hedge fund managers. Must be a troll from HR or ELT.
Please ignore the bitter hedge fund managers that frequent boards like this. Their only goal is to hoard the wealth, even if it means destroying companies and your lives to do so.
@xsq, Paul Ottelini was white and he turned down the iPhone. Brian Krzanich was white and oversaw Intel's process leadership decline and utterly destroyibg the moral of employees with the worst layoff experience in company history, all while pushing his virtual cycle nonsense and sleeping with a staffer. Bob Swan, white, was a Wall Street guy. He was just clueless about how to fix Intel. And PG (straight male Christian white white) just went through a major spending spree to only end up having to turnaround and do layoffs. Now does being white really have anything to do with these failures? Of course not. I am just showing you the ridiculousness of your comment. Stop blaming DEI. They are far from Intel's problem which have always been at the top and not a position they've ever had.
Arrogant response regarding DEI
You have several DEI hires on ELT that don't have the faintest idea how the PC market works so, their forecast models were probably garbage.
I can't figure out why they keep saying "we couldn't predict the macroeconomic headwinds" when many were predicting them.