~ 7000 people will be let-go by end of April. 4000 from 2017 focal, and rest as re-org ( some of the re-org impacted have already been noticed)
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Of course there won't be another ACT like there wasn't another SET. They will just come up with another acronym.
@MQy74HL-4eee Are you an idiot? Intel was widely profitable during SET and 2015 silent ACT and the 2016 ACT.
The 19nm ramp with horrible situation, huge billion dollar acquisitions and internal billion dollar no meaningful revenue nor profits combined with continued decline of x86 GURANTEES more ACTs!
You all ready when you are called to a conference room on short notice?
I believe Intel cannot survive another deep cut like that. Having said, I do believe he number quoted here. But it may be a Multi year target . Every time we acquired a big company, there was a sizable cut . With the purchase of MobileEye, it's bound to Happen. I hope I am right and there won't be cuts more than 2k . 7k is absolutely brutal!
Another possibility is that they are county the McAfee headcount in that 7000 target
"As long as Intel is profitable, there's no pressure to reduce headcount."
This really shows how ignorant you are.
BK has credibility....?
BWAHAHAHAH!!!
@4ved you're an idiot. cuts are already happening all around you. Look above your rock. you can bet that the same cuts are coming to your neighborhood soon!
@4ved - You still believe BK's lies? It might not be called ACT, but rest assured there will be layoffs again this year. Headcount has not been reduced since last year due to acquisition binge and RCG/URM/H1B hiring spree. Intel is way too bloated, inefficient and rudderless.
BK has publicly claimed several times there won't be another ACT. Even if he needs to cut more, doing so would completely destroy his credibility. As long as Intel is profitable, there's no pressure to reduce headcount. Those of you trolls need to find something else better to do.
H1Bs and URM don't worry, HR confirmed you will not be impacted.
THAT's a LIE! Many URMs were let go the last year. It boils down to whether you can kiss a-- of some white manager. No matter how good you are, you are at the mercy of some nincompoop white manager without even a high school diploma. Talk about white privilege. You can sample and see whether an URM without a degree would have been given such a role. Your guess is as good as mine!
Hey guys,
I'm IT rep. After 10 years of service at Intel I've got IR focal first time. I think it happened because managers got a direction to cut h/c in all sites to get new acquisition in low cost countries.
Did someone else went same scenario?
Thanks.
Not a lie- I heard it from an inside contact too
@1ntw -- I'm not sure that a 7% annual h/c cut is the new normal, but it sure seems like the plan (especially when you add in new RCG hiring which makes the Net cut much less). From my standpoint it seems idiotic to reflexively cut ICs who the company has invested in and know how to get things done. The problem is leadership -- going on I'll-advised company buying binges, ruining the eventual acquisitions, passing on the iPhone, having a poor strategy to win mobile (multiple times), jumping on low ROI trends like drones, losing the ability to differentiate good performers from poor performers who just brown nose and BS well, and so on. ICs working 70 hours a week at max efficiency won't fix stupid management.
H1Bs and URM don't worry, HR confirmed you will not be impacted.
This should have the case all along... 5-7% should have always been the case...
As it cuts are heavily dumped.. prior vsp together with ssl 4
Confirmed, owg have already been culled. Who is next?
confirmed. folsom cuts on the way.
swindon team laid off...that's confirmed
Are you sure?
~4% annual cut coming from Focal and another ~3% annual cut due to elimination of efforts that are perceived to lack ROI. That sounds like the new normal -- it avoids periodic (and costly) mega-cuts like ACT and replaces it with institutionalized yearly cuts that are less disruptive to the business. If Intel was actually able to successfully identify where the cuts should go this might be successful, at least in containing costs. The trouble is their means of ranking people, projects, and sites has become so subjective (and as a result, so inaccurate) that it will ultimately be just an annual exercise in the company shooting itself in the foot.
Why those numbers?
"Don't just dream that there will not be another ACT this year" you do not work for Intel if you think there will be another ACT. Just another loser troll.
Don't dream like a fool goat that this is fake news. To afford such an overpriced mobileeye layoff is normal. So sleep happy, don't just dream that there will not be ACT this year.
This is real folks...Intel has to cut. HR contacts verified that.
@kbk if you're white and over 40, you've automatically won yourself a ticket! Congratulations!
Nice fairy tale OP.
How to make sure I am a chosen one?
Only 7k?
If this news is really, it's very exciting. Haven't heard this good of news since, well, last April.
Let me see. I am trying to gauge the authenticity of this news. I got SSL4 so a candidate for ACT. However I have several important new projects given by my manager and those are long term too. I have worked with my manager on an action plan for the next year with strategic career improvement items. So I am not sure if the managers are aware of it. Time will tell.
What is MCM?
Please can someone confirm this is fake news? I can't sleep at night. I need medical marijuana!
All the executive bonus and expensive acquisitions have to be paid one way or another. The easy solution is to reduce White/Asian Male over 40 and refill with URMs. Highest yield financially, lowest risk politically, smartest decision making by BOD and MCM.
I have confirmation as well from an Intel exec, off-the-record. HR still finalizing package details and whether folks will be given few weeks on-site or escorted out same day.
~4% annual cut coming from Focal and another ~3% annual cut due to elimination of efforts that are perceived to lack ROI. That sounds like the new normal -- it avoids periodic (and costly) mega-cuts like ACT and replaces it with institutionalized yearly cuts that are less disruptive to the business. If Intel was actually able to successfully identify where the cuts should go this might be successful, at least in containing costs. The trouble is their means of ranking people, projects, and sites has become so subjective (and as a result, so inaccurate) that it will ultimately be just an annual exercise in the company shooting itself in the foot.
Not fake. I am not OP but I heard similar from manger buddy at different site. Going to hit R&D hard allegedly.
where's the internal?
Not sure how credible, but iCDG is re-org and some employees laidoff recently.
And we all do realize this is a lie