Thread regarding Intel Corp. layoffs

@ddw+1jl79xdu You’re conveniently leaving out the bit about PG hiring 30k people since he came in, and now firing just as many. He owns this totally, not BK “clown shoes” or BS the bean counter.

Well it's certainly the answer to appease the shareholders

You fools blaming PG for this are shameless. The problems with Intel started long before PG took the helm in Feb 2021. This trainwreck was set in motion under the stewardship of BK and BS. BK and staff messed up royally on 7nm, causing numerous delays and a loss in Intel's longstanding process leadership. Also, BK was terminated due to being busted for (s*xual) harassment that had apparently been going on for years and probably compromised his leadership postion as he allowed the 'woke' cr-p to gain a foothold in the company that undermined Intel's longstanding values. BS was just a puppet that allowed the same cr-p to fester and get worse such that it created a toxic work environment, a continued loss of focus on important business matters, and drove a lot of good employees away. The current situation Intel finds itself in is due to the problems that have been gradually building over the last decade and, coupled with this Recession, Intel has reached a 'breaking point'. PG doing the right thing to make cuts. Get rid of the 'dead wood', return to Intel's classical values, focus on core business and get rid of the 'fluff', and plan for a return to growth in the future.

Reasons why layoffs are occurring:

1. Leadership failed to understand that Intel and the processor industry were the tech equivalent of Peleton — a beneficiary of a one time pandemic-driven boost in revenue. So they hired as if that revenue would continue, causing a hit on profits.

2. We’ve fallen behind in the ability to design and manufacture chips. Our chips suck too much power, which caused Apple to bail. We still struggle in process technology, leaving us at a cost disadvantage vis-a-via our competitors.

3. We’ve wasted millions on fruitless projects (drones, etc.) yet we’re still stuck in x86 jail.

4. The federal reserve (Tweedle Dee) and Biden (Tweedle D-mb) are economic illiterates that failed to deal with inflation. Now interest rates are going up, and Intel’s ability to raise capital without extending debt is hampered by a stock price that has fallen over 50%.

I’ll hope for the best. If the layoff is less than 18,000 then consider it less than what it could have been (or will end up being when all is said and done),

What’s not to understand. CEO answers to shareholders. Stock will go in to a death spiral if dividends are cut or the margins collapse. Chip shortage is long gone. Huge number of people who got hired during the shortage are not needed anymore. Chips act was needed to subsidize US fabs for the coming invasion of Taiwan by CCP, which might actually help Intel. For now, cuts will be deep and for several quarters until bottom line is met. Earnings release is in a few days and the expectations are bad, so will be the cuts.

@yzf+1jl79xdu We love u pat!!!

You are our savior

@yzf+1jl79xdu - Hi Pat - can I have few millions from your $250 package?

@lhs+1jl79xdu You’re thinking like a capitalist. That train has left the station.

Pretty simple, Pats delusions which he hired all these people didn’t materialize.

Now a bunch got to go!

Why don’t I believe this won’t be the last of many layoffs as Intel shrinks to irrelevance.

Typical low IQ Intel employee.
Look genius... Revenues cannot support expenses.
This is basic logic.
People have to go.

Faulty logic. People are being laid off not because someone thinks this will help to turn the company around, but rather because the company can no longer afford to pay them.

Hey guys, this is PG your CEO. I am Sorry for my sc--w ups, but I think if we eliminate your job, we can turn around this company. I still want my $250M on time for my Christmas shopping spree.

Best of lucks and enjoy your holidays.