Particularly GMO which has been thought several rounds of reorg...
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"It is kind of beyond believe that Intel was adding headcount last year when everybody knew the big bump in demand was due to PC demand surge as companies, schools and individuals went virtual and the US government handed out $6 Trillion in stimmy money."
What's even more beyond belief is that Intel continues to employ, reward, and promote the exact people that made these decisions, and instead of holding them accountable, let go, force out, and lay off the worker bees that are simply following the guidance those in leadership directed.
The people that made these horrible decisions get bonuses and stock and promos.
The people that followed the leaders guidance get laid off.
the cogs that have been at Intel for decades and decades are there for a very good reason... they fit in the machine and know what it take to survive.
... which is very different then actually what it takes to turn the company around but the long timers won't suffer, it will be all the people they hired the last few years only to riff them due to poor planning and failed execution over decades and decades by the cogs...
Actually met this person a few times and he seemed like someone self sufficient take it or leave it which I guess works for big companies
Most certainly all groups need to cut more. Revenue down 36%, headcount up year over year. The cuts have just started.
It is kind of beyond believe that Intel was adding headcount last year when everybody knew the big bump in demand was due to PC demand surge as companies, schools and individuals went virtual and the US government handed out $6 Trillion in stimmy money.
I wonder where the business operations team was on their forecasting. Stu Pann now runs the IFS but used to do that job. Somebody should ask him about it.