In the meantime, leadership still firmly believes that layoffs and cuts will somehow magically resolve all the accumulated problems. They really are a failure. Which I would be totally fine with if we haven’t been paying the price of their incompetence and mistakes. At this point I’m morbidly curious about how the demise will play out.
4 replies (most recent on top)
Long after the demand fell off, the company continued to add more fab capacity than could be justified. That is an Intel problem, not a Govt problem.
Chips Act money is not customer demand, and is socialism in any case. Replace it with tariffs and stop using the national debt to enrich political supporters.
A company letting go 15k employees should not get any CHIPS money. Why do people think its ok for companies laying off a bunch of employees to get any money.
Nothing will happen until everyone sees how the first 100 days and probably 6 months of the Trump administration plays out. The first half of 2025 will likely be a rodeo in the US and Intel's problems won't even be picked up on anyone's radar. Companies are laying off ie AMD and GM to name a few. I doubt the rest are doing much hiring. I suspect we will see in next week's Nvidia earnings report that demand has cooled off temporarily. No one really knows what to fully expect so they are maintaining status quo or reducing spending. Intel needs a lot of demand but it won't materialize and Q4 will be another loss leading into Q1 which is always a slow quarter even in good years.
For a start, 30b was invested and if we don't get the CHIP act money soon, that's the first problem.