Grove has only been gone from this world for a very short time and already the vultures are moving in to tear apart his heritage. They are willing to use a tool, (layoffs), as a means to temporarily bolster stock holder confidence rather than wisely setting it aside to be used only as an emergency solution. They, the current corporate powers that be, fail to acknowledge the deeper damage done when implementing a layoff like a financial custodial tool. Workforce loyalty, faith and trust all suffer and often manifest in stress related illnesses, elevated levels of corporate theft and sabotage, and degradation of morale and team spirit. Many companies have implemented this "tool" over the last 100 years which has led to a cultural acceptance of a practice that should have be relegated to the past century. Many similar companies such as National Semiconductor, Fairchild, Texas Instruments, Micron and IBM (some of which are no longer in business) made bad business decisions which included using layoffs as a cosmetic solution for their books. It signaled a failure of integrity for each one of them. It is unfortunate to see a great company like Intel fall to a level where they feel they can defend and use layoffs as a positive in protecting their profitability.
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LOL @ the hamster stapled to his head @afv. LOLOL
People should stop referring the pathetic Intel CEO by his pet nickname BK for Christ's sake.
It's like the fools on a certain presidential campaign team who stand by a complete buffoon (you know the one with a hamster stapled to his head), that they call "Mr. Trump".
And the stock went down anyways
Great post OP. Completely agree. Unless they are truly needed (ie company losing money) they do more harm than good. The sad part is I think BK understands this - but doesn't care.
well said..great company..being run to ground by **