According to proxy 2023 headcount has decreased 6-7k between Dec to April and intel charged 1.2B for the headcount of reduction. Now there is no cash to pay for another round, so the cheapest option is to increase attrition.
How? 1) Inflation peaked at close to ~10%, meaning, in the next cycle, if you get 10% raise, will have the same purchase power as early 2022. to have 10%+ increase for all employees, intel need huge increase in revenue - Also remember in 8 months heading to 2024, intel needs to reduce cost by average ~800M$ to achieve 8-10B annually. 2) So far they have not provided info about 'reward' for those who stay, and ambiguity will result people to leave if another opportunity arrives. 3) Long term cash for G 3 & 5 as I hear many people prefer RSU. 4) No QPB bonus at least until Q3 2023.
My analysis based on published articles by experts. Remember if economy improves, there is a chance for a V shape recovery.