I just accepted an offer to Intel this week and was really excited to join. However, Intel just posted their quarterly reports and it wasn't good. I'm concerned about whether or not it is risky to switch to Intel at this moment, with possible layoffs looming. Should I reconsider joining? I spoke to my future boss about their current stock price and what it meant but he told me not to worry they generally don't go through layoffs. However, he's also new to the company. #hardware #semiconductor #tech #intel #amd #nvidia #qualcomm #broadcom
Depends on the group you are working for. But, as a whole Intel will be trending downwards in the next few years. Intel made big investments since Pat G became CEO, anybodys guess if they pan out.
Why do you say it's trending downwards?
- Lots of companies building their custom chips for data centers. - AMD is providing tough competition in client (desktop & laptops) and server space. - Data centers is the only growing business. Client computing (Intel's bread and butter) is a shrinking space and this pie has to be shared with AMD. Apple with its M chips is showing how ARM processors can be used in client space, this will further eat into Intel's share. - Intel losing top talent to companies making chips in house. Intel is no longer the premier place to work, the way it was in the 90s and early 2000s.
Intel is always a layoff heavy company, one C level said half life of an engineer is only a few years, you are just a commodity to them
Really? Of course the hiring manager would tell me they're not a layoff heavy company. My naivety allowed me to believe that.
CHIPS act was sent to the Prez. Dw.
Yeah but they won't see that money until mid 2023 apparently
Their results are worrisome. Is your team part of growing business? If yes then probably nothing to worry.
Don't forget they stopped their optane memory business as well now. By the way my spouse just accepted an offer in the Bay area. Not sure if it a good move but may be better off than staying at VMware. Fingers crossed
Layoffs will not happen to the main business but if you are doing something cool and out of the box, most probably you will be trashed due to so called macroeconomic winds. You can plan your future by assuming each stock $20 in 2023. If you got good sign on bonus, join Intel. Even in case of severance, you get another few months salary.
I'm working in the data center software integration unit with customers. So it's a revenue generating part of the business but it's a new program
With Lisa Su's leadership, I don't think Intel can have any customer in future. Not a great place to work.
Intel is a sinking ship.
Sw leadership is completely broken at Intel. G8-G9 Sw tech architect folks dont understand basics of software algorithms, basics of database normalization rules and nor able to innovate. These middle managers openly ask for support to retain their jobs in return if you want promotion. Lower grades are hence expected to be role models to higher gradesin sw tech ladder. These people need to let go or need to demoted to grade 5 and let new/competent hires fly.
yup, they are still pretending to be a sw company. In reality they can’t seem to deliver either HW or SW 🙄
I do think sw play can be increased but old rotten folks shouldn't be leading this. Hw engineers who couldnt advance in hw became software managers :D running sw management on shoulders of new hires calling sw as an art rather than mathematics of time and space complexity.
I think they’ll do fine and wont have any significant layoffs. But dont expect your TC to grow by stock appreciation- INTC is stuck in the 30s for the foreseeable future.
Lucky for me they didn't offer RSUs, they offer Cash awards instead
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Lol, if people was making decision based on one quarter earning…
The CFO stated that they're likely to have a bad Q3 as well. So it'll be consecutive qtrs where they struggle.
Intel has missed like 6 quarters in a row