Thread regarding Intel Corp. layoffs

Pat and ELT - too clever and shrewd . Still few open questions

Genius Pat and Team.

At the end of the day what did we get?

  1. We do not know whether in the name of restructuring and redeployment how many will be laid off. It can be 5K, 15K, 25K, 30K just not 20K.
  1. Till end of Q1 maybe more we will live a life of a prisoner sentenced to death who does not know if has been forgiven or can be called any moment for execution.
  1. No metric has been assigned, so my manager, managers manager etc etc will toss a coin and decide our fates.
  1. when Pat was asked about over hiring for last year, he in a poker face admitted he had no sense 76 B will drop to 64B. So the great Intel think tank had no idea what will happen in a year, but they are confident that IDM2.0 wil bring back Intel to action in 2 years. Great!!!!!
  1. ELT will decide to keep or chop projectss.Pat is too smart to outsource the dirty job and clean his hands. No one will be able to say now inspite of chips act, tax credit etc etc they have done anything.

Nice Pat!!!. Intel has really hired a smart guy replacing the not so smart BK who acted stupidly and we knew whom to blame. However, look at Patt. He is being credited to be saving the company and making it great.

Really. This is what American dream is????

by Anonymous
| 3085 views | | 7 replies (last October 28, 2022) | Reply
Post ID: @OP+1jqd3CYA
Comment! It's anonymous!

7 replies (most recent on top)

Intel will start with the older peeps like always.

by Anonymous
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Post ID: @yxn+1jqd3CYA

Still he isn’t changing a damn thing about this company other than some HC cuts that we all know will be refilled shortly. An exercise in futility.

by Anonymous
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Post ID: @wpi+1jqd3CYA

To the rocket science guy... First, you are assuming all cost reductions come from people. Further it is annualized, compounded cost reduction. If you cut say $2b in hc once, and stay flat, you save $6b by year 3. Intel is the greatest company on earth.

by Anonymous
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Post ID: @kwt+1jqd3CYA

$3B reduction in cost in 2023. Assuming 150K in salary, that’s 20,000 employees.

$8B-$10B by 2025. That’s a total of 66,000 employees.

So about 20k in 2023. Another 40k+ layoffs in 2024/25.

It’s not rocket science

by Anonymous
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Post ID: @fzd+1jqd3CYA

Also how cleverly he spoke when asked on whether Bloomberg report was true, he flat out said ‘no’ but also also he’ll need to let go of some members of Intel ( dysfunctional) family with respect and dignity.

So he said two conflicting things - the rumours are not true but they are true kind of messaging it was

by Anonymous
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Post ID: @wtk+1jqd3CYA

Exactly!!.

Patt provided only one message to his direct reports to pass on:
LET’S CUT OFF THE BULL’S HEAD

by Anonymous
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Post ID: @aqa+1jqd3CYA

Kudos to Pat for not cutting dividend and let the stock go into a death spiral. Pat and ELT have only one goal- improve margins and increase dividend over time. Mobile eye ipo’ed. Time to spin off IFS, now that Mediatek is a customer. Implement cuts over time to manage costs and sell off deadbeat BU’s, like the modem unit. Focus on high margin critical businesses. I would say they are on the right track. Yes they are too clever and shrewd and they will save the iconic Intel.

by Anonymous
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Post ID: @zcg+1jqd3CYA

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