So when will the layoffs of 20,000 workers begin?
When does this happen?
10 replies (most recent on top)
The activity is picking up. Don't snoop around the HR printers or you will see some heavy stuff.
You won't know until you get the HR e-mail
It was communicated that in the month of May, top leaders are looking at orgs to make the hard decisions by the end of May. Cuts will be done by the end of June. They have to go fast to realize savings in Q2. Even LBT said they would be done by end of Jun. Was I the only one listening to all hands and earning call?
Nothing happens fast at Intel. They are making reduction plans public now to get as many people as possible to leave on their own without severance. The rest of the planning will take 3-4 months and the execution will take another 2 months. The timing on the bulk of the reductions will be like last year in Q3/early Q4.
August
In the Q1 Earnings report the CFO said that details would be ready by July or Q3. My guess is that it may start earlier than that, but would surely be done by September.
It was a news before the Q1 earnings. It will come back before Q2 earnings to dump up stock.
They will do it slowly before earnings just like they always do. To keep the stock price from deteriorating.
I don't believe OP will employed much longer.
when was it confirmed to be 20k ?