Today is the day Intel posts its biggest quarterly loss on record ever, of billions of dollars.
Today is the day Intel lays off thousands of US employees and tens of thousands worldwide.
Hopefully this is the catalyst for some sort of culture change or better management (not likely) or at least sets the appropriate conditions for a company split and/or takeover by a better company.
13 replies (most recent on top)
@lbi - LOL, u mad bro?
@ihx LOL at you not knowing aggressive vs passive aggressive. Obviously I’m calling someone an a--hole, that would be aggressive. Mo--n.
No, Intel Kool-aid here. 20 years at this place, all the flaws are very obvious. Calling out toxic shitheads, like yourself, for celebrating or reveling in people losing their livelihoods is at the very least fun, but also the right thing to do.
Now if you go, the fields of my fu--s to give about you is now sadly fallow.
Today is the day …. that will keep the trend from last quarter alive.
We are this decades Kodak. A quarterly rotation of excuses about macros headwinds blah blah blah and other stories about a turnaround only to be followed by more and never ending quarters of heartbreak.
Microsoft, please buy us !
@xdx - It's more than a quarter or two. At this point we are looking at a full year of really bad results (with net losses on 3/4 qtrs.). While I agree the company won't be sold yet, it will be really hard to sustain another year like this. At this point, layoffs and more pay cuts will only accelerate the decline. At below $20 stock price, it starts becoming a takeover target. The current management will not split off the fabs.
@uhw quit dreeaming. Intel is not going to be sold at this point with a bad quarter or two. It's too big and still has lots of $ in the bank. If hard choices need to be made at this point, it will likely be more layoffs, continued pay reductions/freezes, and/or possibly divestitures of non-performing business units.
@pwm - Drink too much Intel Kool-Aid? Your passive-aggressive tone sounds exactly like many an Intel manager.
Don’t let the terrible numbers scare ya. Intel has the messiah!
He will defy economics and business and part the Red Sea and bring the fanatical followers to deliverance!
Just believe baby and it will happen, just like 10nm believe!
Rejoice! There is no need for bitterness as shown in some of the replies below. Perhaps some really bad news, though painful in the short term, will lead to growth and better opportunities for both Intel and employees, even if the short term pain causes their paths to diverge. Sometimes, out of blue comes green. Intel's best days might lie ahead. Hopefully Pat has the courage to make the necessary hard choices such as immediately halting all DEI initiatives, 'woke' policies, and restoring meritocracy and other Grovian principles that once made Intel great.
True dat buddy.
It is indeed bewildering the unbridled glee that's exhibited on this site at the demise of a once great American company.
I'm keeping my fingers crossed that Intel can turn the ship around at some point.
I really hope they offer buyouts to everyone this time. Last time, it was targeted to lower performers, or certain overstaffed organizations... and not everyone could get a buyout. If they offered early retirement/buyouts, they could prob lose 5K easy without breaking a sweat.
Only a complete a--hole writes this in a celebratory way. Does Intel need to make a radical change? Absolutely. Are there major cultural issues that need to be addressed? Undoubtedly. Does the possible life altering layoff of thousands of people need to be celebrated? No, not at all.
This site (like much of the internet) is full of some toxic a-s people. I hope one day you look in the mirror and finally see the festering pile of sh-t you are.