@1ody - I was thinking the same, if they sell off McAfee (or whatever it's called now, ISG?) they could get an additional 6-8K heads. This would definitely put them close to the target, even if they continue hiring at the current levels. If they do not sell off McAfee everybody at Intel better watch their backs as it will get ugly.
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Client continues to melt down
Server way below expectation
Memory fickle business and down
IoT will be a money s--- just like Mobile and Tablet and amount to much ado about nothing
5G is a mirage that is a snake pit of competition that will make Mobile and IoT look like a walk in the park
Big layoffs will be required as Intel Revenue will slip below 50B in 2017 and profits < 5B and at least another 10-15K must go, this time driven by huge BU cuts. I can see big cuts in the Foundry, Mobile, Memory, dang everything, I guess you can call it another layoff, LOL
McAfee could provide ~8,000...
They could hit the full number in one day by divesting a single BU.
VPs were let go,
Each organization still has too many directors with very FEW people under them.
Also managers with ONE or TWO people reporting to them.
It is all a TOTAL JOKE. Continue the purge, Intel.
My director does nothing, no one knows what he does, except working to impress his GM. It's troubling to see that he can't even conduct something as basic as productive meetings. No AR tracking or followups. No written communications about anything.
What is the new focal process @wub (or anyone that knows). Just curious what sort of fun I'll be missing out on since i ERPed. lol
Time for the MANY ..
declined-ERPs
and
declined-VSPs
.... to be shown exit. Q3, 2016 hopefully.
This completely confirms the fact that the target was not 12K layoffs, but 12K hc reduction, which means a lot more than 12K layoffs, after factoring in the numerous RCG and H1B hires. Having said that, there are still actions in progress such as project cancellations, group efficiencies, site closures, etc. ongoing until the end of the year and into Q1 next year that could account for another 4-6K heads. If they keep hiring at the same level, there is no way they will be able to reach hc target (which I believe is about 95K) without additional layoffs. Prepare for quarterly stealth ISPs by business unit based on new focal process.
Q1' 17, they will add an additional 10k to the already 12k number.
Ugly .. Watch your back and kiss your managers a$$
yes, "12% worldwide - for the first round" which ends somewhere in 2017. This round, if that's what you want to call it (it has many moving parts called various things), isn't over yet. That 12K won't be finished until sometime next year. I do not recall what part of the year they were targeting. It might have been mid-year.
That is bad way to interpret the commentary, it would be right if they did not have new hires. They have been recruiting new hires at the same time so the 6000 number is a net number
Read in below earnings commentary from CFO.
http://files.shareholder.com/downloads/INTC/2471569164x0x900479/96CF9C96-D06C-4089-AC21-0CAD3DF43E82/CFO_Commentary_Q2_2016_Final.pdf
Page5
Other items
The total number of employees was at 106K, down 6K from the first quarter. This was a result of our restructuring program announced on the first quarter earnings call.
I did not hear this on the earnings call. it has to be more, as the target was 12% worldwide - for the first round.
I did not hear that on the earnings call.
I did not hear that on the earnings call.
Where or when did he say this OP?