For those who keep claiming that there will be no more layoffs at Intel, it was just confirmed that 65 employees across three different sites (two campuses in Santa Clara on Mission College Boulevard and Bowers Avenue and one in San Jose on Zanker Road) are being laid off.
And this is only one of the rare confirmed layoffs.
https://www.bizjournals.com/sanjose/news/2018/06/06/intel-layoffs-silicon-valley-san-jose-santa-clara.html
Confirmed, many more coming!
Afterwards 150 new guys can be hired in India.
Its 65 per 61 U.S. sites. 3965 employees bite the dust!
Confirmed. This is just the tip of the iceberg.
Agree with 1tck. At one time in Intel, people were treated with dignity and as a primary resource for getting business done. Now under despicable BK, they are treated as disposable commodities, vanquished at the touch of a button. Sad what this company has become.
If Intel wants to save money, there is plenty of fat from BK down to his 300 VP's around the world. This company is bloated , top heavy , ran by inept beaurcrat who's only intrest is to get theirs even if it means ruining thousands of lives.
It was only 20 years ago that Intel management pronounced their people as their #1 resource. Even in bad economic times, managers like Andy Grove still had a high degree of humanitarianism in their hearts to protect these resources. They would do any possible to find another way of dealing with cost savings and protecting employees such as redeployment, moving highly valuable skills to an important, growing area of the company, no raises or bonuses for the year, paycuts but keep full employment, slash the hiring budget, etc. There were a myriad of ways to keep the experienced, highly valued employees. Now the present CEO immediately employs vicious, insensitive layoffs of these same experienced employees without a consideration for other solutions. He knowingly has completely dehumanized the relationship of management and employee. Fear has been installed and now employees worry about the next to be cut kind of like a modern day "Logan's Run". My how things have changed from a once respected company to that of fear and untrust.
I feel for these folks, but any thought of “no more layoffs” is crazy. Nobody meant it that literally. This is normal business, not a harbinger of ACT2 (not yet).
Rumor has it these were highly directed cuts. At least some of these people were on an automotive-related team that was redeployed in SC.
As usual Intel will continue hiring younger people simultaneously as the firing action against older people continues. Intel previously would pause hiring for a while when layoffs were acted upon, and the business purpose was to trim headcount. Now its about replacing old people. This is a disgrace.
Agree with -lvv. Imagine living in the Bay area and you are over 50 years of age. Getting a pink slip is probably the worse thing that could ever happen. Finding new employment at this age in a comparable job is virtually impossible as employers stay away from them like taboo. This means a major disruption to your and your family's life with no guarantees in another community, or a different state altogether, wherever you may be lucky enough to find work. Feel very bad for these folks as they have probably done nothing wrong and were successful until Intel needed to sacrifice some pawns. They just happened to be in an age group and income bucket that Intel always targets.
Who said there would be no more layoffs? Please show the postings where that was claimed.
Hopefully some of those laid-off can update this forum with information on how these layoffs were done including packages offered.
Can only imagine that these 65 employees knew they were targeted at the most recent Focal. Probably found out a couple months ago that they were rated "Successful" but their stock units participation was rated at SL4. The stage was preset for HR to simply come in, review the most recent rating and compare to last five years. Easy for them to start preparing packages at that point. It was just a matter of when the layoff announcement was going to take place. No doubt Intel probably screwed those lifelong, dedicated employees at an age too early for Medicare and too old to be considered by other companies for employment.
@fuv I'm sure those 65 also think it's no big deal to lose their livelihoods.
Wonder what the age distribution and statistics will be for this group. Probably highest paid, oldest employees while ignoring the weaker employees?!?!
It’s just 65, no big deal. ALL companies hire and fire, what more co as big as Intel!
Haha. Let's watch the little mice scurry and try to hide from the butcher's cleaver. People should always be out looking for better opportunities. If they think they were "safe" at Intel, they're out of their minds!
Fake news!