Intel kicks off its restructuring plans, with reported layoffs occurring within the Sales and Marketing division, but Intel Foundry Services is all good.
https://www.tweaktown.com/news/97376/intel-layoffs-hit-the-sales-and-marketing-division-as-amd-cooks-up-its-new-zen-5-cpus/index.html
So the purpose of the cruise was to make them walk the plank. Interesting.
"There is no more money coming in until the company demonstrates a turnaround has happened. Enough talk, someone seriously needs to put a gag on Pat"
I have just the plan! How about another press event! Maybe Pat Moorhead will say nice things about us and the stock will still freefall because no one other than Intel execs give a fu-k what Pat Moorhead things about anything.
The 2016 layoff was in the middle of a push for diversity. VSP package$ softened the blow. There is no money like that this time, however, but they have reached significant diversity goals. I would be intrigued to see how they score diversity. The German government, pre-WWII had a chart that calculated "diversity" among the not-so-ethnic Germans.
I would bet that by the end of the month it will be chaotic with no one and no groups safe. Q1 earnings will be worse than expected and it will start the chaos. It will be an exodus on the scale of 2016 but without the lucrative packages. There is no more money coming in until the company demonstrates a turnaround has happened. Enough talk, someone seriously needs to put a gag on Pat.