JemmyIntel allegedly plans imminent lay off of thousands of employees to fuel turnaround
www.tomshardware.com/tech-industry/big-tech/int…
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Struggling to roll out products that don’t immediately break. Struggling to keep pace with competitors after blowing a huge lead. Facing new threats in the form of arm and risc v. I know, let’s lay off staff that’ll help.
The line can only go up. If the line goes down then the people who generate no value for the company will have less money, which is super bad of course. So if they can't sell more, more expensive products, all the time, then they have to reduce how much they spend, and of course they won't get rid of the most expensive people.
So much this to the point that the title pisses me off for supporting the idea that share price is the appropriate metric for a 'turnaround '.
But the processor quality issue has already been turned around by telling customers there will be no refunds. Surely the execs deserve big bonuses for thinking of such a simple and brilliant move.
doctortofuThe good'ole strategy of "if we cut enough corners we'll become a circle and circles are perfect"...
ddhFacing new threats in the form of arm and risc v.
I think the instruction set is basically irrelevant to the discussion. Intel is losing to TSMC at the actual foundry process. Intel is losing to AMD at the design of desktop/server class chips running the x86 instruction set.
Within the ARM world, Apple is running circles around the competition. Qualcomm can't compete on mobile SoCs, and Samsung's Exynos is even worse. Qualcomm is trying to get into laptops, but the performance and efficiency aren't competitive with Apple, and might not even be that far ahead of AMD.
Intel is betting the company on various stacking and packaging technologies to fit way more stuff into a small surface area, but basically is left hoping that this works.
risc v is not a concern because they could just build risc v chips themselves, likely more efficient than competitors too. I would be VERY surprised if they didn't have a team working on it internally. Arm and quality are their big issues right now.
surely producing a lower volume of lower quality products will improve the bottom line, right?
Oh, so they're just going to use the money from the chips act to do stock buybacks and give themselves bonuses because of course they would.
We pay for their capital expenditures because that's national security bro
Show some respect for the grift, boy!
Also fuck these plebs, executives will design the chips themselves just like Boeing execs build the planes!
🤡
MudManIs the fuel in this case a bunch of damaged 13 and 14th gen CPUs?
empireOfLove2Their time in the spotlight, gained and held because AMD couldn't stop shooting themselves in the foot, made them fat and complacent.... now they reap what they sow.
Can't wait for this to be AMD and Nvidia in 5-10 years too.
Once these execs finally get that all this AI Jupe is bullshit that won’t deliver on what it promises, this will happen to nvidia way before five years.
"Could it be that we pay the top brass too much? Nonono, that's not it. Cut workers that depend on us to survive."
-The Top Brass
Think of the poor shareholders!
Aren't they recalling two complete SERIES of CPUs?
Guess those execs really need their bonuses
I don't think they announced any such recall?
so they should have some spare money to send me a new CPU to replace my fucked raptor lake CPU.
They should be thinking of the loss involved in replacing these CPUs as an investment in Intel's long-term reputation. But instead they're thinking "how can we make the line go up this quarter?" and cutting staff. It's shortsighted, as all public companies are these days.
Hahahaha! Oh my this is hilariously sad!
So they took
-government-taxpayers' money to create jobs. But instead spent it on stock buybacks. And now they are lying off thousands of workers because they need money?We all knew the CHIPS Act was a scam, but I didn't expect it to be obvious this fast. I thought they would be more tacit about it.
Banned
I'd place the blame more on businesses and dumb managers keeping them afloat since they still think Intel is the best bet for their computers or they're stuck with Intel due to existing contracts. After AMD came in and bitch slapped Intel with Zen, a lot of the community switched teams and went over to AMD for CPUs but most businesses haven't yet.
STOP FLOODING THE MARKET ASSHOLES
It feels like its always the same with big companies trying to please their stakeholders. They just manoeuvered themselves into a very bad corner by planning super short term and trying to milk each product to their limits. All of this because they were super dominant for a long time. But as soon as they experience pressure by amd, apple m1 series or qualcom, to actually perform, they crumble under their own short term planning. It feels like their existence ist onley based on their reputation from several years back and the lack of research done by the customers
I don't think that happened here, with the stock dropping off 27% with one of the worst days since Y2K.