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“These reductions will be based on a combination of portfolio changes, level and position elimination, skill assessment for remaining positions, and some hard decisions around our project investments,”
“These are difficult actions but essential to meet our affordability challenges and current financial position of the company. It drives pain to every individual,” Intel manufacturing Vice President Naga Chandrasekaran wrote to employees Saturday. The Oregonian/OregonLive viewed a copy of the email, whose authenticity was confirmed by four employees.
Hopefully the people who leaked the internal memo are cut as well. It amazes me that in the span of two years Intel will have laid of more than 30% of the company. That is not good management.
My condolences to the Intel employees affected by this.
I learned in 2008 it’s better to be in the first wave of layoffs. There is still some money left to do right by you. Later waves, if it comes to that, won’t be so lucky.
Hopefully the people who leaked the internal memo are cut as well. It amazes me that in the span of two years Intel will have laid of more than 30% of the company. That is not good management.
such kind of leak is bound to happen given the scale of communication. hopefully we have more clear vision after July, when Lipu perhaps is more confident on his plan and will share some externally
such kind of leak is bound to happen given the scale of communication. hopefully we have more clear vision after July, when Lipu perhaps is more confident on his plan and will share some externally
Yes, it happens all of the time but it is not ethical and I'm sure it's against the Intel employment agreement. On one hand employees expect transparency, on the other hand employees leak information. Trust is paramount in this business and I think that is going to be Intel's biggest challenge moving forward.
As the saying goes "everyone has a plan until you get punched in the face". Mike Tyson said it and he certainly knows both sides of that equation better than most. It is also called a reality check. Let's see what Lip-Bu says on the investor call after being CEO for 4 months. It may take more time for him to get the full Intel reality check.
Yes, it happens all of the time but it is not ethical and I'm sure it's against the Intel employment agreement. On one hand employees expect transparency, on the other hand employees leak information. Trust is paramount in this business and I think that is going to be Intel's biggest challenge moving forward.
As the saying goes "everyone has a plan until you get punched in the face". Mike Tyson said it and he certainly knows both sides of that equation better than most. It is also called a reality check. Let's see what Lip-Bu says on the investor call after being CEO for 4 months. It may take more time for him to get the full Intel reality check.
Agree on the ethical path. It is simply reality about leak.
Remind me during one of my companies, we share almost too transparently, but amazingly keep most info in house. It was a public company, but running like a start up, in most people's mind set anyway. I think that's part of the reason here. In large company like Intel, much harder for individual to treat it as one's own.
Yes, it happens all of the time but it is not ethical and I'm sure it's against the Intel employment agreement. On one hand employees expect transparency, on the other hand employees leak information. Trust is paramount in this business and I think that is going to be Intel's biggest challenge moving forward.
I'm not surprised at all this memo would leak directly to the press. This is about Intel, an icon in USA and in an existential struggle. And I'm sure Intel's top management had anticipated that leak for sure. Nothing surprising in it's content.
Intel had to communicate something to their Foundry employees. Intel is reading SemiWiki also!
It's brutal for the people involved. Ever since the first wave of 15000 cuts last August by PG, now the second wave of ~20000 by LBT will have some serious effects on Intel's Foundry operation for some years to come. No wonder many potential customers keep somewhat of a distance for some time already from Intel Foundry, till the "dust" has settled at Intel in 2-3 (?) years from now.
Here the #employees over the years at Intel, peaked in 2022, so we are only 3 years in its decline now and will go back below it's numbers from 2010 it seems (remember Darwin joined the Board of Intel in 2009(!) and became it's chair in 2023, amazing he hasn't been kicked out yet) : https://www.macrotrends.net/stocks/charts/INTC/intel/number-of-employees#google_vignette
Darwin stated in Jan 2023 after becoming chair of the Board:
Yeary said: “I am deeply honored to take on this expanded role during such a pivotal time for Intel. While the company certainly has big tasks ahead of it, I'm confident we have the right strategy in place . It’s imperative that we execute well and simultaneously deliver value to our stockholders .”
I think the rumors was that lip-bu wanted more cuts when he was still a director with a focus on middle management. Personally , I always find that middle management is often a hindrance…..
Shows how far Intel has fallen even compared to the old ACT days, when a CEO could get topped off by his direct report and then shitcan anyone over 55 without so much as a peep from his loyal drones.
Shows how far Intel has fallen even compared to the old ACT days, when a CEO could get topped off by his direct report and then shitcan anyone over 55 without so much as a peep from his loyal drones.
Hopefully the people who leaked the internal memo are cut as well. It amazes me that in the span of two years Intel will have laid of more than 30% of the company. That is not good management.
Obviously Intel had and has too many people and probably too many factories. So while extremely painful, its not clear that reducing headcount 30% is bad management. Hiring people in 2021/2 was bad management.
Agree on the ethical path. It is simply reality about leak.
Remind me during one of my companies, we share almost too transparently, but amazingly keep most info in house. It was a public company, but running like a start up, in most people's mind set anyway. I think that's part of the reason here. In large company like Intel, much harder for individual to treat it as one's own.
Could be that because of the great transparency employees learned/understood how to handle sensitive information. Intel is not transparent internally, people go into vapor-lock when info is shared, and most of the sensitive communications end up getting leaked.
Obviously Intel had and has too many people and probably too many factories. So while extremely painful, its not clear that reducing headcount 30% is bad management. Hiring people in 2021/2 was bad management.
ACT was the rather insidiously named layoff in 2016ish, which many Intel people now see as a massive self-own that began their current doom spiral. Instead of owning up to the 10nm disaster, BK just protected his boys. Instead of having their "come to Jesus" moment back then, they took the Mossad approach of sexual blackmail to get rid of him and installed a finance dork to manage the decline. You know, the good ol' days.
ACT was the rather insidiously named layoff in 2016ish, which many Intel people now see as a massive self-own that began their current doom spiral. Instead of owning up to the 10nm disaster, BK just protected his boys. Instead of having their "come to Jesus" moment back then, they took the Mossad approach of sexual blackmail to get rid of him and installed a finance dork to manage the decline. You know, the good ol' days.
I think Intel should make a movie over this guy maybe they would be able to add half a decent amount to their revenue from this movie alone should help with the falling revenue.
ACT was the rather insidiously named layoff in 2016ish, which many Intel people now see as a massive self-own that began their current doom spiral. Instead of owning up to the 10nm disaster, BK just protected his boys. Instead of having their "come to Jesus" moment back then, they took the Mossad approach of sexual blackmail to get rid of him and installed a finance dork to manage the decline. You know, the good ol' days.
www.oregonlive.com
) :
. It’s imperative that we execute well and simultaneously deliver value to our stockholders