Y’all think Elon will do you good? Don’t be no fool: he’ll get rid of the fat and that means YOU! 50% or more cuts!! Y’all are crazy!!
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@hv counterpoint is that they are doing the same with less. More support/funding is needed. All the resources go to the IFS pit
The only hope Intel has is to manufacture, domestically. Leave advanced chip design in capable hands. AMD and ARM
Intel is a not a software company , Elon musk won’t be able to run it, we need some one from semiconductor background to turn this ship around , also note its manufacturing side that is bleeding money, it should be separated out from intel products and their stock should be split , this is way to recover but we need someone bold to make this decision, when this happens Intel products will be in much better shape , foundary will struggle till they get their 18A story straight.
@e6+1jj0158xn If you worked at Intel you would know, or have access to, the SERMA amount and should know that IRMP is far superior (and simpler) to Obamacare.
RCGs don't care about the pension, because they don't have one, but those who put in decades at the company do care about that.
But really it is about the ability to get insurance at the super cheap Intel Group Plan rate.
The $30k SERMA is not nothing either.
@av+1jj0158xn You clearly do not work at Intel, or have read what Intel "retirement" encompasses. Basically, current Intel full-retirement is one-year of stock acceleration, a $300+ "gift", a team lunch, and the ability to buy into the high risk health pool (of which, Obamacare/Exchange is much much cheaper). If someone was around for a long time, they'll get their SERMA, but that's just prob $20k-$35K because they eliminated payments in ~2015 or so. As for the "pension"... there isn't one anymore, and if someone did qualify, they would only get it if they were the worst investor in the planet (it's a min level scheme based on old profit sharing balances... which the program was eliminated back in 2004 or so).
Yeah real brilliant! Lost twitter advertisers and countless users. Can't hire those back! Elon is a myth. The real man is a used car salesman with no people skills and a major case of tiny di-k syndrome.
Elon's method of firing 80% and then hiring back only to fill in the holes is a brutal but brilliant way to right size the company fast. In this market people who are needed will probably still be available for re-hire and at a cheaper price.
Elon gonna buy Intel with 88 billion in Twitter stock.
Vast changes just for changes are stupid
Let that sink in
I am no fan of Elon Musk and will never be a customer of his, but the reality is that Intel needs someone like Elon, but not Elon, to come in and clean house from top to bottom. The entire BoD and ELT needs to go along with quite a few managers that were clearly promoted beyond their skill level (think Peter Principle).
It sad, it was avoidable, but here we are.
Elon is garbage person and CEO twitter/x is a shadow of it's former self. He's the manifestation of toxic tech bros who think the way to win is to fire anyone not actually DO ANY work. He talks a good game but he is a social time bo-b. Goodbye hr and get ready for the real hunger games. Intel will turn into a chaotic train wreck and considering a capital intensive business needs stability to thrive yeah look to chapter 11 because he will ki-l it all and will walk away unscarred. All you racist b a-s white boys will be jobless and wondering where to put your di-ks. Fu-k you Elon
In this scenario I would expect most senior roles to be replaced with Tesla and SpaceX managers on loan. While everyone essentially has to re-interview for there own existing job.
LOL... I remember a guy posting about this a while back. Bring in Elon, and fire 80% of people (mostly non-engineers, almost all of IFS/TMG managers G8 and above, and 95% of Finance G7 and above)... and only hire back critically important roles. Guess he can actually predict the future!
The only reason to do 'mass' layoffs is in an attempt to keep IDM 2.0 going.
Not to say there won't be layoffs but I'd expect them to be more targeted, even if that is due to some group being eliminated (so mass layoff to them but not to the company as a whole). Product groups do this all the time.
I do think if there is one part of foundry which could experience major reorg it would be TD, having gotten really bloated in the attempt to catch up on technology. It is unsustainable and I don't think even 6 months ago it was intended to remain so large.
If buyer/s emerge from mar-a-logo (the Berghof of Florida), then the company has been parsed out to political favorites and something remains of Intel as a brand but that's about it.
The Board is full of Finance types, and those kind of people will always take a short term gain over building anything meaningful in the long term. That's why CFO's should never run a tech company, let alone infest the Board the way it has happened to Intel.
So foundry goes, and each of the product groups may end up as part of some other company.
Maybe the Intel brand remains online as a company store, to sell bunnysuit keychains and such.
Not sure what that means for any retiree, as they may lose their pension and/or IRMP. The retirement benefits were one reason to stick around and maybe the acquiring companies will have better pay & benefits, as they would arguably be stronger companies. But the retirees may end up paying for their own insurance till on SSI/Medicare.
People cheers probably because with Musk at the helm there are more chances to survive and maybe prosperous later. With the current installment, there will be none of those.
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My doctor says I should take a good healthy Elon each day every day, and I doo.
Papa Elon will make Intel great again.
Why do we need 50k in foundry? Robots can do that job
U can't run a fab with skeleton forces
It doesn’t matter who it is - there will be massive layoffs when new owner takes over. Stream lining of sorts. This is pretty normal when a new owner takes over a company
Felon Musk doesn't have any time
he has 11 kids, smokes dope, and plays video games