BIG layoff at TOP coming… moved result date to make sure they get share … multiple share vesting on month end
CEO ?
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If true - they are all fu---d. As we all know basically no one is hiring us at all. Now imagine trying to get a vp position or similar somewhere else…. It’s going to be impossible…they must downgrade themselves to even have a shot at landing something…. Question is how many are willing to do it?
So are you saying that Pat Gelsinger will announce his departure from Intel during the October 31st Q3 Earnings Call and that the date was pushed out to let him buck on maturing stock?
A number of VPs are being let go, including my recently promoted VP (who was fantastic). My impression is that a lot of the “lower” VPs (Grade 12 - 13) are being impacted at about the same percentage as the rank and file.
A few more details at the Oregonian here: https://www.oregonlive.com/silicon-forest/2024/10/intels-oregon-layoffs-by-the-numbers-vps-fellows-and-engineering-all-took-hits.html
What is defined "top"? The amount of layers we have is insane: VP, EVP, SVP, PE, Senior PE, Fellow, Senior Fellow, Director, Senior Director
I would like to see everyone who is not a Grade 10 PE to be let go
@xuf - layoffs will only increase the stock by 20 cents. Please fu---n read between the lines. No layoffs will save this company earnings.
Ugh have we always been this corrupt and we are just seeing it now? Intel really is a dark sh-t hole of place. No wonder most of us can’t find other jobs why would you hire a corrupt Intel employee??!!
@nem
What?
@bcd
Huh? Your comment reeks of alcohol and google translate in another tab.
Fire 🔥 Fire 🔥 Fire who wants money for their NGO to sponsor force religion conversion.. common you are old … spend time with your great grand kids don’t collect millions just sake of hidden agenda.
Intel really needs to get rid of at least 35% at the top. These are VPs that report to VPs that report to VPs. So much toxic politics and gaming the system. They do NOTHING. Get rid of the garbage.
Moving stock from $10 to $10
20
This will be a quiet week at Intel with all of the layoff and financial reports looming. I can't believe that much real work is getting done. This post seems at least plausible. The unexpected change at the top of TD is a good example. Sounds like sales missed their mark so that could be another candidate. This site should be really active staring Thursday night.