1:1 this last Friday with my director and she confirmed layoffs (20%) are coming due to macro economic and Intel poor performance to be announced in the all hands forum, RTO coming >= minimum 3 days per week in addition to layoffs.
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Some DEI hire was a bit too transparent. Nothing coming from other directors in this organization.
I'm surprised there's many people left in Israeli fabs, they all seem to be living in 5star hotels in Ireland supporting F34 HC issues after so many Irish people left Intel for better paying pharma industry jobs.
Israel fabs have not missed a beat through this year. They also never do a "soft" shut down for Christmas or any other holidays. They are hardly Intel's problem, to say the least. Try to be smarter, please.
I think RTO is a great way to improve the company's financial status. It will mostly weed out the employees who don't pull their own weight.
I hope all these "I will quit before RTO" mo--ns realize this is exactly what Intel wants, right? If you quit, they don't have to pay severance. If you refuse RTO, they will terminate you with cause, and again, don't have to pay severance.
It’s a buyers market and it’ll be a buyers market for quite a few years so the résumé you’re selling good luck, my friend get lost
Get me back to office, and I will quit 20 minutes later, and with me 20 years of domain knowledge. I can find a job in less than a week. Intel should get rid of slackers and worthless employees that do not learn and deliver, just lie about it.
What is sad is that even if the workforce takes a 20% hit now it will probably happen again within a year. 70-80K is probably the correct staffing for $50B revenue and this may be going down so the headcount should reduce accordingly.
Pat should hang his head in shame! All the games with the salary cut, reinstatement, yada yada, was for naught. He should have been digging in and cleaning house instead of begging for government money and doing pushups. Now we have a disaster.
Using RTO to get staff to voluntarily leave is becoming a common business practice. Attrition rates are way down. The job market is not very good so people are staying even when they aren't happy. I am sure a lot of people visiting this site can relate to this.
If Intel cuts 20%, which would be around 25K people, in one move it won't recover for years if ever. Business processes will be broken. There is a lot of tribal knowledge that will be immediately lost. People don't share this information because their piece of puzzle keeps them secure...sort of. The 80% of the people who survive this round will be struggling to try and fix or replace broken process. Long term it may be better but in the short term it is a shock to the operations.
https://www.kornferry.com/insights/this-week-in-leadership/using-rto-to-cut-staff
And what are they going to do with all the RTO? Shared desks / scheduling? They got rid of a lot of folks desks and shut down floors.
Or are they expecting the layoff to cut enough bodies to have room?
And as for IT/whatever - they have been slowly outsourcing this elsewhere already, so no surprise they would speed things up.
I think RTO is a debatable way to improve the company’s financial status, but not at all surprising…
Yep, makes sense.