What is the current headcount? Will this 20% be higher or lower than 15% cut last time, in terms of headcount numbers?
We're all groups uniformly affected in the last cut?
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22k is what our HR rep is saying.
So, going by 2024 layoffs and the hiring after that, a 20% layoff will result only 10-12% reduction as hiring will be huge after that....
The layers of management has been a stagnation issue with Intel for over decade. I am happy to see where this will lead. This seems like the right layoffs this time. We will see what the end result will be.
Revenue per employee is still far below the rest of the industry.
In the early 2000s, layoffs usually resulted in no more than 90k and often 80k remaining, so this is merely getting back to what was at one time the benchmark.
Problem is that revenue is soft so LBT really needs to take this further, but that involves selling or shutting down at least 1 fab and doing the same with a number of product groups.
That's where this has to go but not something that can be done immediately.
stay tuned..
It depends on the hiring rate in parallel with layoff.
In last October, when 15000 are forced to leave, 7000 are hired based on LinkedIn reports.
A lot of people about to loose their homes
I thought Intel was sub-100k after the 15% cuts last year. How are we still at 107k?
Many of us have been predicting this for years. It's pretty easy to see how to get to the 20% number.
Just look at the terrible quarterly operating cash flows and work backwards as to how many heads you have to cut to get back to no red ink.
Sad fact of life, you can't light cash on fire and expect the bonfire to last too long.
Intel is at 107k so approximated 21-22K