Thread regarding Intel Corp. layoffs

So they gave our bonuses and raises away to criminal construction companies? Nice!

Empty shells in Ohio, empty shells in Germany (if they even get built), empty shells in Italy, anywhere else? That will be the story of IFS.

🤣 Good analysis. I like the bit about the rent-a-cops. You must work in Site Services. 🤣

Well if you go back and read the Q1 earnings call transcript, you can find a discussion of this.

Dave the CFO said Intel has to manage the cash carefully [since the company is bleeding so much of it] and he said the build out of new fab capacity will have to be managed. He basically said the fabs will get their 'shells' and after that the build out would continue only after demand materializes. Remember, Intel is losing alot of money due to fab underload charges.

So, unless demand in the core business comes back quickly (doubtful) and/or the IFS 'moonshot' actually makes some progress [don't count on it for a year or two... if ever], then you can expect the fab shells to sit empty. You won't see much hiring in those locations except for maybe some rent a cops to drive around in those little Intel Security cars with the flashing yellow lights.

Local economies won't be helped either... except for maybe the donut shops where the rent a cops go for a snack.

Well, it’s literally a hole in the ground. Congrats!

Intel says construction teams on its $20 billion project in New Albany have poured more than 1,500 cubic yards of concrete this week as part of its shift to a new phase of work at the site that it has dubbed Ohio One.
Photos provided to The Dispatch by Intel show the progress the company is making on the foundation of one of the two plants that will one day employ 3,000 workers.
“This is a massive milestone that all of us here in Ohio and at Intel are extremely proud of. The pouring of concrete at Ohio One is more than just construction progress – we are cementing our future in Ohio and our commitment to expanding U.S. leading-edge semiconductor manufacturing capacity," Jim Evers, Intel's plant manager in Ohio, said in a statement. "We are excited about the progress we are making and appreciate the support and partnership from our team members, suppliers, partners, and the communities across the Silicon Heartland.”
Keyvan Esfarjani, Intel's chief global operations officer, said the shift in construction represents an important milestone in Ohio One.
"Our Ohio One site is reported to be the largest single private sector company investment in Ohio’s history — one that will create of tens of thousands of jobs across the state," he said in a post on LinkedIn. "This site is critical to our strategy to expand U.S. leading-edge semiconductor capabilities and develop a more resilient semiconductor supply chain."
Concrete for the work is coming from Intel's onsite concrete plant.
Intel has said it expects construction on the project to be complete in 2025.