Thread regarding Intel Corp. layoffs

Is he green batch or blue batch? Who the f-c k signed his temporary contract?

Meta CEO paid just a few millions of dollars to hire or steal AI talent engineers for their family while this ShitTel company hired hundreds of millions dollar CEO to just ki-l or get rid off their ShitTel family members. What wrong with that?

LBT is just here to manage the company through the prearranged bankruptcy.

His main task is to get the best value for the existing assets and streamline everything else.

That is why is not full time and doesn't really have much to say to the minions.

It's just a consultant gig.

Part time CEO to get full time paid salary. WTF company is this?

@ak I don’t care whether he motivates or not. I just want a full time focused CEO. IMHO the board has not met there fudicary duty by hiring a part-time CEO. And with potential conflict of interests plus more.

Speaks volumes that Intel's BoD determined Intel doesn't warrant a fulltime/captive CEO.

Why does everyone at Intel think that they are part of the decision making process? Focus on doing YOUR job and they will ask you if they need your input on other decisions.

The big boys don't have to play by the same rules as you and I. As George Carlin said, "It's a big club, and you ain't in it."

Fire the board !

can we cut his salary by half?

@ae How about motivating and inspiring a workforce that is demoralized and dejected?Perhaps he could try to do something about that. This is now a major fu--ing problem. How about communicating with your employees more than one a quarter in a scripted event? How about answering the questions that are asked of him, and if you don't know for sure, just say that and take a AR like the rest of us. Instead, he answers alternative questions with vague responses that always involve the term "laser focus" and an attempt at a basketball analogy. This is getting old quick.

I’ll do it part time for 1,000,000 a year… just lay off everyone, how hard can it be?

What is it that he should be doing that he isn't? Intel is here for many reasons but the ki-ler decision was Pat's fab expansion without the customers to fill them. The cuts being made have to be made. The focus on 14A over 18A was to stop wasting money we don't have on a technology customers aren't interested in. These are good business decisions given Intel's desperate environment. What will be interesting are the changes that will hopefully be made to the product road map. But other than cuts and market segment exits there's only so much that can be done about the products currently in the pipeline that were started before he became CEO.

Lip-Bu Tan is not exclusively working for Intel because his employment contract specifically allows him to maintain involvement in his outside ventures, such as leading Walden Catalyst Ventures and Walden International. Unlike traditional CEO agreements, Tan’s contract does not require him to devote all of his business time and efforts to Intel; instead, it is tailored so he only needs to commit “such time as is necessary” to his role as Intel CEO. This arrangement lets him continue managing external investments and board memberships alongside his duties at Intel.
The rationale for this flexibility is likely due to Tan’s extensive expertise, deep industry relationships, and ongoing commitments in the technology and venture capital sectors—qualities seen as valuable assets for Intel. However, this unique approach has raised concerns among some investors and industry observers about potential conflicts of interest, especially given the broad scope of his investment activity, including in China.

The board sold Intel out:

The employment contract between Lip-Bu Tan and Intel, as CEO, outlines the following key elements:
• Base Salary and Bonus: Lip-Bu Tan receives a base salary of $1,000,000 per year, with eligibility for an annual performance bonus targeted at 200% of base salary (up to $2,000,000).
• Equity Awards: The agreement provides significant equity compensation, including performance-based stock units and stock options, with specified vesting schedules and performance criteria. Tan can retain two-thirds of his stock awards if a “change in control” occurs within 18 months of his joining.
• Board Membership: As CEO, Tan is also appointed to Intel’s Board of Directors, with automatic resignation required from the Board and any other positions upon termination as CEO.
• Contractual Conditions and Duration: The contract incorporates a three-year performance target and unique clauses regarding “change in control.” It differs from prior CEO contracts by allowing Tan to devote “such time as is necessary” to Intel rather than requiring his full business efforts, enabling continued involvement in external ventures.
• Severance and Contingencies: The agreement covers terms for resignation, death, or disability. Notably, some benefits and the offer itself are contingent on ongoing employment, and there are specific provisions if he leaves or is terminated.
• Transparency and Entire Agreement: The offer letter explicitly states it, alongside referenced documents, forms the entire agreement between Lip-Bu Tan and Intel, superseding all previous understandings.
Compared to previous Intel CEO contracts, Tan’s agreement includes a distinctive “change in control” protection, more flexible time devotion expectations, and is tailored to accommodate his active investments in other startups.

I posted this before. LBT's contract is to work for Intel as needed. Pat's contract was to work for Intel exclusively. Shows you how desperate the board of directors were to get somebody in after they let Pat go. LBT is just along for the ride and a paycheck.

Probably they aren't so concerned given the plan to wind it down and sell it off.

Less than 18 months.

Tick Tock

All of which are extreme conflicts of interest. Particularly his relations with the PLA.