Watch out for mid January to hear about people leaving Intel who have been notified this month.
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the layoffs will continue until morale (of the stock) improves
Some groups were able to hit their target by reducing other spending but Product groups are realigning headcount year round.
Add to that the 2025 targets, which considering the current business situation, will be further in the same direction.
ELT thought that the new products would have more traction but consumers are weak from Bidenflation and datacenters appear to be moving on from CPU, even to control GPU.
There is also the effect of ARM on all sales.
ELT thought that revenue would pick up and it has not, and this is the strongest time of the year.
So time to scale down more, in both Products and Foundry. Pat (and the rest of ELT) was resisting deep headcount reductions but the market is showing them that is the only path to sustainable profitability.
x86 will be around for a long time but is still in sharp decline. It will eventually be a long tail, not worth pursuing.
Severance package?
Ouch
Anyone can recall back to 2006, Intel has layoff 1000 manager, which increase working efficiency and environment a lot. But since then, all layoff are target to "work horse", especially young employee who have a lot of potential, but was fired because they are still in short term contract.
middle "management" layers
I think you are being too kind.
Some of us just left - no "unannounced" layoff, just tired of it.
Thank whatever lord Pat prays and fasts...some of these a--holes are finally gone. The ones that stopped progress that didnt fit their agenda. Nice CCG clean out. Thank you Lisa, BYE BYE ...so excited to see this. Let's GO!
As the worthless dolts who live on MLOA trickle back, they'll come in long enough to gather their moldy lunch boxes & dusty IFS t-shirts, they they're out.
Mop up on aisle 3.
Looks like they are now cleaning out middle management layers.