Heard from a reliable source in finance that the latest round of layoffs missed LBT's HC reduction target by ~2000.
The current plan is for September's RTO mandate and normal turnover to cover those 2000 heads. If not, there will be another small round in Q4 which will not be publicized. Stay on your toes, and don't put a target on your back over the next months.
LBT is the ultimate diversity hire. Our first CEO who isn't even pretending to have a list of products or vision he likes or is pushing. He only wants to cut. I'm glad we finally gave the price equity crew a fair shot in this country with this diverse move after having boring Pat and his silly vision and strategy.
@OP and when earnings are not good they will do more drastic Q4 layoffs ontop of all outsourcing. Make Intel Great Again MIGA
RTO Sept 1st (Labor Day): A One Act Play
Email from Management: “Oh, so you didn’t come in because of your little ‘holiday’? You’re Out!!”
2k+ gone
LBT: “Job Done, Team!”
The End
"normal turnover" means losing people to competitors, usually good ones.
70K or Chapter 11 bankruptcy !
So, your saying there's a chance?
So we’re clear to keep playing Quiet Quitting Roulette for another 2 months?
Fuhhhhk yea!!
Fake news because layoffs not complete
Are you sure you’re properly accounting for what will surely be another decline in revenue in the second half? Does FanDuels let you place a bet on where MSS loss will be worst this time around?
Shouldn't be a problem to ID another 2K based performance of the DEI squaters
The remaining may be done low-key, spinning as performance issue, so they don't have to give WARN notice or severance.
It's called "constructive dismissal".
@OP I know a guy who's friends with the cousin of a former roommate of LBT's nephew, and he says everything is on track, so I'm going to sleep fine tonight.
Hilarious that our Managment can’t even execute to a simple HC target. pretty easy to say you have to cut X heads to a certain group.
Intel got be the most incompetent management on the planet. Hey managment saved their jobs for another day
And expect after quarterly earnings the number to be cut goes up.
And middle managment and failing CVP didn’t get cut either. LBT clueless
This is correct