Employees are running away from Intel in droves, companies acquired by Intel are leaving at any cost, and here we are awaiting a major layoff round. Why? Is it really necessary when so many are already happy and willing to leave on their own? Is there even a need for it?
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When your management decisions are run by overcompensated id--ts who drive a business into the ground (yes Murthy, I'm still looking at you), eventually your best performers start leaving.
Why? The bottom line. If Intel cuts dividend or reports lower margin, stock will enter a death spiral and shareholders will have Pat’s head. Layoffs are needed now due to over hire during chip shortage. People or acquired companies moving on is obviously not enough for bottom line. The cuts have to deep due to shareholder demands.
I can remember a time when I absolutely loved my Intel job, it didn’t feel like work at all. I was putting way more hours into the job than I should have, but barely noticed because I was so into the job and the company.
Then around 2014 my org was absorbed by another org, a lot of consolidation took place, and suddenly we were juggling 12 projects instead of 2 or 3 and trying to deliver overlapping project schedules on time. It was brutal and I burned out. It got to the point where I lost interest and all motivation to even show up for my job, Intel became Inhell and I started planning my next career move.
While planning my escape I was informed that my job was going away and I was given ~3-months to find other employment within the company or leave with a severance package. I chose the latter and am happy to say that there’s life after Intel and I have no intention of ever going back. There was so much back-stabbing and misinformation going around when I left, I only can imagine that’s what’s happening there right now. Believe me when I say, there are much better companies to work for.
I would too considering the situation
The good people leave and the village people grow