Intel 20% layoffs ?
As per todays news reports some one from the leadership team indicated company wide 20% layoffs will happen and will be announced at the next earnings call. (As google, nvidia and lot other companies are doing this layoffs Intel having worst year interns of PC sales are least expected not to go for layoffs) Hope we all are safe. not sure how soon layoffs happens? Afaik this happened 2-3 times in Intel’s history. Expected announcement of this will be on the Q3 earnings day TC:130k Yoe:1 DV engineer #hardware #interview #semiconductor
Rumours are it will be by end of this month
Early 2000’s and 2008/10 were a bloodbath for layoffs in semiconductor industry. But I know people there 20/30 years. My neighbor, an acquaintance, and someone I knew from my school are still there.
20% is too much, that's 20k employees
https://www.quicktechnics.com/en/post/intel-will-lay-off-20-000-employees
The article mentioned 20% in sales and marketing. I would guess the core engineering would be spared.
Run on sentences in this post. I can’t understand what you writing
where
Op’s post is a mess.
Only marketing and sales.
This can't be true. If Intel RIFs 100% of all sales and marketing people it wouldn't even make a dent in their expense reduction goals. Neither will tossing out all the janitors and interns. Intel headcount is around 126K people and sales and marketing people don't have the highest TC. The best thing for the BOD to do is to fire the insane number of useless VPs and SVPs, who take home significant TC, and trim PG's outrageous comp package. PG took home more comp than execs like Tim Apple while taking INTC down 50%. There are also countless tech people coasting on 2 hours per week while banking significant TC.
I agree with you but to prove he is best CEO, Pat won’t do major layoffs. Even before he joined intel was bloated and he still hired additional 25k employees. Now if he does major layoffs then he is proven wrong. Due to his big ego, he will prefer to stretch till 2024 using bailout money from government and avoid major layoffs.
iS EnGiNeERinG ImPAcTEd!!
Wow.. I don’t think industry can accommodate 20K people 😞
Amazing how quickly misinformation spreads.
20k layoffs. I am sure it is couple thousands in sales and marketing.
So puts or calls?
Calls
Puts, might go below 20