So is this the first shoe to drop, seems like a nothing burger.
A few VPs retiring but not seeing any meat here.
Dave suggested the cuts were around projects.
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@ba+1jpt7fczx If you think Intel had more Indians from India working for it then look at the data below it’s an approximate. Numbers could +5000 deviate. Intel is US heavy company so stop cribbing on Indians. Indians are divided based various factors like language, region, religion and caste. It’s tough to gang up.
Company
Total Employees (Global)
Employees in India (Approx.)
AMD
~25,000
~6,500–7,000
Intel
~124,000
~13,000–15,000
Nvidia
~36,000
~4,000–5,000
I fully expect to pants Dave at the next ACM after the next earnings tu-d.
Dave Z was brought in as Pat's Puppet.. otherwise George (before Dave) would have likely been a good enough CEO to prevent Pat from over-spending on Foundry dream.
You can imagine George was aligned with Bob Swan on not building out the Foundry strategy so he was immediately jettisoned by Pat and replaced by Puppet Dave... it's interesting to watch how Dave remains whether Lip-Bu respects him or already has his own CFO in waiting.
Years of systemetic nepot$sm, favoritsm (interviewing, hiring, firing, layoffs, promotions, rewarding etc) concentrated Intel workforce from a particular Asian country ($nd$a). It's a gang mentality that they are proud off
The only VP retiring is Ann Keller who is a dinosaur anyways. She's been at Intel 30 years and delivered what exactly? She would of likely got leg go anyway. She's just getting ahead of it and going out on her own terms. No other news unless someone would like to share?
DZ has been a total embarrassment for the company. Might be a great person but not competent and qualified to be Intel CFO. Another one of Pat's big mistakes.
Most of not all the ELT team needs to go. How do you drop the ball several years straight but never take any real accountability. Then move on to discrete graphics, Lisa Pearce has been around way to long delivering horrible results all the way back to Skylake. Then move over to data center, cloud and A.I. Start at the top if you really want to make change. If not your just cutting around the cancer.
Pay attention to any GM or higher grade departure, because that usually shows what groups are going to be shut down or scaled back a lot.
This is always true because executives are always trying to build their empire, but especially true right now.
Dave should be terminated at some point because the CFO is responsible for Cost and Headcount, and he displayed gross incompetence in that role when working with Pat.
He is a decent fellow but inexperienced and a company doing a build out like happened with IFS and various product groups, really needs an experienced CFO, or it will usually go pear shaped.