PC Tech Intel cuts 15,000 jobs, approx. 15% of its workforce

[Nokra]

Chipmaker Intel to cut 15,000 jobs as tries to revive its business and compete with rivals

APNEWS.COM

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Chipmaker Intel says it is cutting 15% of its massive workforce — about 15,000 jobs — as it tries to turn its business around to compete with more successful rivals like Nvidia and AMD.

 

 

First there have been all of the shenanigans with the 13th and 14th gen desktop instabilities, and now this. What a rough quarter it has been.  

[Mr.Vic20]

That’s massive and I’m guessing there will be more to come.

[Commissar SFLUFAN]

3 hours ago, Mr.Vic20 said:

That’s massive and I’m guessing there will be more to come.

 

The expectation that ultimately 19,000 positions will be cut.

[Nokra]

7 hours ago, Mr.Vic20 said:

That’s massive and I’m guessing there will be more to come.

 

3 hours ago, Commissar SFLUFAN said:

 

The expectation that ultimately 19,000 positions will be cut.

 

Yeah, the last figures I'd heard were that we had about 115,000 employees, so 15% would be 17,250. Morale around the office is pretty damn low.

 

[ApatheticSarcasm]

On 8/2/2024 at 10:09 AM, Nokra said:

 

 

Yeah, the last figures I'd heard were that we had about 115,000 employees, so 15% would be 17,250. Morale around the office is pretty damn low.

 

I'm sorry to hear that, I've got a bunch of friends/classmates that work in the Chandler, AZ plant. Is that 15% expected to hit the manufacturing side a lot?

[Nokra]

12 hours ago, ApatheticSarcasm said:

I'm sorry to hear that, I've got a bunch of friends/classmates that work in the Chandler, AZ plant. Is that 15% expected to hit the manufacturing side a lot?

From what I heard and understood, supposedly every area is eligible to be targeted (including DCAI, the datacenter group, which just went through a round of layoffs less than a month ago). They're first asking for people to voluntarily separate, and then also offering advanced early retirement to people who are eligible, and then they're going to move forward with the firings. So it will really depend on who voluntarily leaves, what business needs there are in each group, etc. 

 

What's also super shitty is they're cutting benefits to those who remain, such as almost doubling the time needed to work to get a sabbatical (4 years to 7), cancelling all of the fitness classes in the gyms, and cutting out some of the really basic perks that I can't imagine really cost them all that much, such as our free coffee and fruit. It's a real shitshow. 

[Nokra]

Oh and they're also supposedly going to consolidate their real estate investments to be more effective (I.e. consolidate offices and close down unnecessary ones). Does that include allowing for more work from home? Of course not; boomer management says that's ineffective.

[ApatheticSarcasm]

Man that is horrifying to hear, it seems like this is being taken out on the workers unfairly. I hate to point to another topical failure, but I am going to assume that at Crowdstrike, there was probably someone at the C-suite level that screwed up royally that led to the sequence of failures culminating in the worldwide outage. I think for Intel there's probably someone similar and they're probably doing every weaselly 80s executive stereotype thing to escape responsibility.