If no drastic action is taken on layoffs, next quarterly report will be worst.
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AMD has what 15K employees who will generate north of 5 billion in revenue next quarter.
Intel as 131k employees who will generate 11B in revenue.
Good good a 50% pay cut or about 50K employees need to go to match AMD!
We do need to reduce HC but layoffs hit cash now. Cutting pay will encourage many to leave over the year with no severance, saving cash.
Pat knows that but he doesn’t have guts or his religious nature preventing him.
Forget Q's. Next 2 years will be KO punches all over here
Q1 is baked in the cake. Q2 he could work on.
they have already projected a Q1,23 loss of 15 cents per share on revenue of 10.5-11.5 billion. Profit margin will likely drop below 40%. If Intel laid off 20K people tomorrow it wouldn't matter for Q1 since they have to give at least a 60 day notice so they would still be paying those people into Q2. Q1 is already a disaster.