Intel Planning massive layoffs

[positivedoppler]

They enough to spend 17 billion to buy Altera but then turns around and plans this...wow

http://www.oregonlive.com/silicon-forest/index.ssf/2015/06/intel_facing_disappointing_sal.html

http://www.bidnessetc.com/44550-intel-corporation-intc-planning-massive-layoffs/

 

[ShintaiDK]

How did the topic end as massive? the article you link got nothing on numbers.

And what, you think companies got people around if they dont serve a purpose?

 

[sm625]

Its better than buying back 17 billion of their own stock and then laying off thousands. It is actually rather amazing that they havent shed too many jobs already, considering their overall revenue growth has been miserable for the last 3 years.

 

[Abwx]

Looks like bns thrown in contra revenue didnt work for anything else than bleeding dry the cash reserves, will Intel call these lay offs contra hirings..?..

 

[TemjinGold]

Err...

"According to a report by The Oregonian, Intel Corporation (NASDAQ:INTC) is planning to lay off several employees from its task force as a response to the disappointing revenue outlook for FY15."

SEVERAL employees is now massive? And what does them having 17 billion to buy Altera have to do with laying people off? Should they be charitable and instead pay those employees to do nothing?

 

[Yuriman]

Err...

"According to a report by The Oregonian, Intel Corporation (NASDAQ:INTC) is planning to lay off several employees from its task force as a response to the disappointing revenue outlook for FY15."

SEVERAL employees is now massive? And what does them having 17 billion to buy Altera have to do with laying people off? Should they be charitable and instead pay those employees to do nothing?

Lol.

 

[Mondozei]

"Several" is a poorly phrased word by the journalists. Even a 5% reduction for Intel would be thousands and thousands. So yes, it's massive in terms of sheer scale even at low percentages. And remember Intel has people all over the world. If the layoffs are concentrated in Oregon the impact is disproportinate.

Anyway, as others have already said: I'm surprised this hasn't happened earlier.

 

[Abwx]

Lol.

Re lol...

plans it announced in April to cut its research and administrative budget by $300 million this year

If just "several" employees are enough to cut costs by 300m/year i guess that it must be the 500 people the most paid at Intel that are thrown out, still "several" hundreds, though..

 

[el etro]

Man, this is Godawful. Intel is one of the most stable and profitable US companies, and are not bad at execution these times.

 

[dmens]

Re lol...

If just "several" employees are enough to cut costs by 300m/year i guess that it must be the 500 people the most paid at Intel that are thrown out, still "several" hundreds, though..

Wait til you see Lenny

 

[positivedoppler]

Man, this is Godawful. Intel is one of the most stable and profitable US companies, and are not bad at execution these times.

Yeah awful for those living in the Oregon/Washington area. One way to look at it is jobs lost at Intel will hopefully migrate over to the rest of the mobile industry. It was hard to imagine that Intel would take two years of billion/quarter loss in mobile without eventually blinking.

 

[frozentundra123456]

I feel bad for those laid off, but that is part of business, especially in a mature area.
Without hard figures though, seems like a bit of a sensationalist piece.

 

[Pheesh]

It's kind of interesting because the housing market around Intel in Oregon has been going crazy. Mother-in-law is in real estate/property management and she's constantly setting up houses/rentals in the area for new Intel hires that are "fresh off the boat".

 

[Khato]

I'll take a "performance-based involuntary separation package" any day over the stupidity of the "voluntary separation package" that Intel did last year. Because what happens with a "voluntary separation package"? Simple. Anyone competent who wants a change of pace will take it and either get hired elsewhere pretty much immediately or use it as a multi-month long vacation before getting another job. aka, the people that you'd want to leave aren't the ones that will leave when it's voluntary. Grumble.

 

[dark zero]

That movement... AMD and Nvidia got a golden chance to deal a critical hit and get some interesting people Intel will lose.

 

[Arachnotronic]

That movement... AMD and Nvidia got a golden chance to deal a critical hit and get some interesting people Intel will lose.

Not so fast...

The memo says Intel identified employees targeted for the layoff based on their ratings in the company's rigorous annual review process, known as Focal, and through other performance evaluations.

"PMB helps groups across Intel reach their year-end headcount targets in a way that's meritocratic and supports consistent performance management across groups," it says.

http://www.oregonlive.com/silicon-forest/index.ssf/2015/06/intel_facing_disappointing_sal.html

 

[CHADBOGA]

That movement... AMD and Nvidia got a golden chance to deal a critical hit and get some interesting people Intel will lose.

Most of those let go will be lower performing staff.

 

[sandorski]

Most of those let go will be lower performing staff.

Perhaps, but could still be useful for Intel competitors.

 

[jpiniero]

Intel really does need Windows 10 to not be the disaster that Windows 8 was. Even more so than MS.

Most of those let go will be lower performing staff.

Wouldn't say lower performing; if it's like typical corporations they are probably getting rid of people who they can easiest get rid of and at the top end of the salary range. Doesn't necessarily mean lower performing.

'Course being a tech company they could just be laying off random people and hiring H1-Bs later.

 

[Yuriman]

Intel really does need Windows 10 to not be the disaster that Windows 8 was. Even more so than MS.

It might be different this time around. A few days ago I got my free upgrade notification. If M$ pushes out their new OS to all Windows 7 and 8 PCs, where's the incentive to replace?

 

[waffleironhead]

Intel finally cutting loose all those associated with itanium?

 

[jpiniero]

It might be different this time around. A few days ago I got my free upgrade notification. If M$ pushes out their new OS to all Windows 7 and 8 PCs, where's the incentive to replace?

It's not about consumers; it's about corporations. The idea is that if they can manage to get consumers to upgrade to W10, it could get enough share to convince corporations to replace their aging machines with new Windows 10 ones.

 

[Idontcare]

Intel finally cutting loose all those associated with itanium?

Yeah, people who take risk and try to do something different should be fired! When did anyone ever get anywhere by trying to do something new?

 

[crashtech]

...will Intel call these lay offs contra hirings..?..

That's actually kind of funny, I like it.

 

[Arachnotronic]

Yeah, people who take risk and try to do something different should be fired! When did anyone ever get anywhere by trying to do something new?

I'm pretty sure the folks on Itanium have just been reassigned to Xeon-related projects. Doubt Intel would just let those folks go.