Will be interesting to see if Lip Bu stands by his words and asks to layoff management and middle management to reduce the bureaucracy and speed up or if he continues like previous CEOs and cuts individual contributors leaving us with more fat and lesser people to do the real work and become even slowe if that's possible
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Week of April 28th
When are the layoffs gonna be announced? Feels like the calm before the storm
Hope LBT gets rid of all the window dressing
I hope he reduces middle management but he never said that publicly. The press reported that that was one reason he quit the board but we’ve seen his often the press is wrong.
You want to know what the real issue is? Everyone seems to be emotionally attached to the job, the product, the company. Now if it was really yours...meaning you invented it, marketed, built it, sold it...sure makes sense. But, this is just a job. The loyalty doesn't ever go both ways, obviously. You depend on the paycheck to live, they maybe..have some small dependency, depending on your job, on you to get product out the door. When you work for a small company, wearing lots of hats, it makes a difference. Large companies....not so much. You were hired to do a specific job. If it seems there is never an upside to trying to excel, then do the job you were hired for. Thats it. Leave the job at the job. Divorce yourself from any emotional attachment. I used to have an emotional connection to the company, the job, the product. Learned the hard way not to.
Currently I work in R&D at a large company. I take pride in my work, I want to see the designs I do succeed and make them money, and help the world in what my products do. But, if they came today and said this project is cancelled, I'm ok. Whats next? No emotion. What would you like me to do next is the question. And when I retire, I can look over the past 40+ years and say I had a hand in this...and this...and stuff I can't tell you about. And I walk away..
Fab and TD desperately need to be culled. Soooo many useless “engineers” in those areas collecting massive paychecks while contributing nothing, and in worse cases, actually slowing things down
Marcus from ITAC is leaving intel, news from today
Did he really point to middle management?
As a start, I'm pretty sure OP will be terminated.
As always, the wrong people will be run off.
Pat wanted to invest his way out of the debacle...
Unfortunately, Lip doesn't have such a view of the situation. So, you can expect the cuts to rachet up very quickly.
There is no reason this company should be running at negative $1B a quarter in negative cash flows. It's ridiculous.
They started laying off today. I was released from my shipping dept at Forever 21.
Most of the layoffs will be in Fabs and TD.
A few thousand middle managers could be removed, then watch what ELT are pushed out, because that usually precedes having their groups cut or sold off.
But the fabs are where the losses are, and they largely escaped all prior headcount reductions.
They need to be restructured to be more like a typical foundry and that means a lot of blue badges become contract workers, and staffing is greatly reduced.
Lots of pointless efforts in the Fabs and especially in TD.
Also, the company has around 1000 labs and that makes no sense. Many of them are tied to products which need to be eliminated.
At one time the company was trying to greatly expand the number of products but now that they have lost datacenter to AMD and GPU, it makes no sense to maintain the capabilities needed to be an end-to-end-provider.
Get ready for Shock & Awe, and this will go on for another year or so, because it takes time to do these big changes.
Ok?