How is next week going to look? What can we expect in regards to more layoffs?
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That's still too many employees. Need to be at 75K employees, max.
Because the earnings report will look like freshly used toilet paper.
Why are we expecting more layoffs this week?
when is the next layoff?
My last day was in September. On the way out my boss told me to expect another 15k reduction in 2025. 2024 was just the tip of the iceberg. The enhanced retirement will be sunset and back to basic packages. They will be hoping for higher attrition than the current 4% so they do not have to pay packages. Pat does not want Christy to be paying ludicrous money when we do not have to. Another 15k will put intel in the sweet spot!
It’s going to be great! Intel is saved! The ship has been righted and we are back on course to dominate the semiconductor market space.
Lick your finger and stick it in the air after the Halloween earnings. The winds will tell you. But the current prevailing winds suggest more to come. It's hard to lose trained people but also hard to pay people to wait for something to come along.
Last layoff was based on last bad quarter. This week's layoff is based on the newest bad quarter.
I've already been laid off (out in Nov.). I am most concerned with job search. Good luck to all.