It is going to get messy at Intel soon. Intel spent almost a billion on severances. They cannot keep it up. I left as a grade 10 and I was not a high earner, however my total package was well over 400k. I feel bad for the employees who will be impacted, they will probably only get one week for every two years, etc. Intel cannot afford to pay out those same fat packages. BTW- 20k is a low ball number, they need to get to 70k employees which would be about 35k. This is real, believe me.
15 replies (most recent on top)
There is no such thing as a GR4. Sheesh!
Every day I walk around and don’t see anyone at work. I say if you can’t come to work find some other company to work at! End remote and hybrid this is ridiculous, your boss needs to see ya working!
The cushy tech exits are done.
What all the other tech companies are now doing is essentially kicking people out, usually based on some manner of performance metric.
So there is little cost and it helps earnings going forward.
Intel was always very generous with severance but this last round may well be the last round of that.
The packages were paid for by Product group profits, and that is not really a thing any more. Foundry can't afford such packages and less so if it is totally separated from Product groups.
So expect a big ramp in performance based ranking, with the bottom tier being laid off with a few weeks pay and some Cobra. It appears that HR is also implementing some AI based tools to monitor and terminate those who are in violation of company policy.
This renewed focus on weeding out the low performers should enable the company to improve. Over he past decade Tech has forgotten that innovation takes hard work, and the workers have gotten lazy as a result.
Kira and Ryan in xeon team need to go
If it took you this long to realize Intel needs to cut an addition 20K... that's the problem. This was blatantly obvious for the last decade. Intel Products should be the same HC size as AMD irregardless of revenue... and IFS/TMG should have the same cost & productivity metrics as TSMC.
It's because their management chain is full of circlej--king snakes.
The dirty little secret is that Intel doesn't know who to layoff. The company will die faster if they layoff the wrong people. It has zero expertise above the module level.
There is little cost when laying off workers for cause or in some cases just really poor performance.
That's what they are working on, and why HR has been so quiet.
Not sure what anyone was thinking, with so much poor behavior after the mass layoffs, cause everyone knew that wasn't enough to get the company profitable.
What's coming will be en masse, yet done one person at a time. It has just begun over the past few weeks.
Some G9s and G8s do work like a G4. How are we justifying these people?
Correction - Intel needs to layoff 20k managers, and yes they can afford it.
It’s not low level employees problem , it’s 600 VP s and 100s of PEs and fellows just sitting and eating Intel money without any strategy and engineering innovations, eliminating them and 5 layers of xls management will do wonders
What id--ts waste their time trolling these sites
They will use the new Microsoft model with zero severance beyond what is legally required. There won't be any payout based on years of service and forget the medical benefits.
Thank the retirees!! Applaud them and their life’s work. They got us to where we are today!
Okay genius. Thanks for coming back and sharing your valuable thoughts. how is new job ?