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Intel plans thousands of job cuts in face of PC slowdown

bloomberg.com

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Re: Intel plans thousands of job cuts in face of PC slowdown

#61

Post by dexwiz »

disillusioned wrote: post #30

Isn't this just a culmination of nearly a decade of unforced errors and mismanaged strategy? I'm a complete outsider but I see a couple of fundamental huge misses by Intel over the past 10 or so years: 1) Completely missed the boat on mobile. Their ARM-competitive chips (Atom, etc.)... weren't. Missed on every measure from power to performance. Let Qualcomm and Samsung eat their lunch. 2) Missed too many ticks and re…

To add to the list their 5G modem chip also failed in recent years. They sold their mobile division to Apple who then indirectly laid off a ton of staff by making them reapply and interview for their existing positions.

Re: Intel plans thousands of job cuts in face of PC slowdown

#62

Post by [deleted] »

dozgon wrote: post #28
superchroma wrote: post #8

Damn, that's a lot of people. Wow.

I made a mistake here. I no longer stand fully by that statement. For details, consider my later reply. Original text: It is. The article does not say where this will occur. They cannot lay off people from the EU like that. It's not that easy. Unlike the US, EU countries are welfare states.

[deleted]

Re: Intel plans thousands of job cuts in face of PC slowdown

#63

Post by SevenNation »

Can't read the article, but for context Intel's share price never recovered from the "dot com" bubble of 2000:

https://www.tradingview.com/chart/?symbol=INTC

It's one of a few large companies with that distinction.

Shares now offer a (relatively) regal 5.3% dividend yield and a price/earnings ratio just above 5. Of course, as profits dwindle, both metrics will be recalibrated downward.

This seems relevant because during the late 1990s Intel was allegedly the company whose shares one bought and never sold. I could name a couple of those whose positions today are argued to be equally ironclad.

Re: Intel plans thousands of job cuts in face of PC slowdown

#64

Post by bee_rider »

chrisseaton wrote: post #24
pengaru wrote: post #17

I love how the PC market slowdown is being headlined as causal when Intel has clearly done this to themselves. Maybe if Apple's products were still "Intel Inside" Intel wouldn't be in this position.

And ‘people not at home’? What does that even mean? People take their laptops to coffee shops? But so what?

I'm under the impression that for a large chunk of the population, spending most of their time on their PC during the pandemic was actually an undesirable lifestyle change. I suspect they might be changing back to doing whatever it was they did beforehand.

Re: Intel plans thousands of job cuts in face of PC slowdown

#65

Post by whymauri »

mort96 wrote: post #50
keepquestioning wrote: post #42

Earlier quoted context omitted.

"Intel Inside" worked..

I wonder if it did? Who bought a laptop because it had an Intel CPU? I know I always bought Intel laptops because Intel laptops were the only things available, not because I have some high view of Intel as a brand. I imagine the vast majority of laptop buyers wouldn't even know what an Intel is.

Before Ryzen, I strongly preferred Intel CPUs and Intel-compatible motherboards for building PCs.

Re: Intel plans thousands of job cuts in face of PC slowdown

#66

Post by InitialLastName »

chrisseaton wrote: post #24
pengaru wrote: post #17

I love how the PC market slowdown is being headlined as causal when Intel has clearly done this to themselves. Maybe if Apple's products were still "Intel Inside" Intel wouldn't be in this position.

And ‘people not at home’? What does that even mean? People take their laptops to coffee shops? But so what?

This seems like a reference to the situation during the height of Covid lockdowns, where people were stuck at home buying tech products.

In that case, the deeper read of the situation is that the Covid crisis helped them kick the can down the road by 3 years on responding to the trends of 2019.

Re: Intel plans thousands of job cuts in face of PC slowdown

#67

Post by chongli »

disillusioned wrote: post #30

Isn't this just a culmination of nearly a decade of unforced errors and mismanaged strategy? I'm a complete outsider but I see a couple of fundamental huge misses by Intel over the past 10 or so years: 1) Completely missed the boat on mobile. Their ARM-competitive chips (Atom, etc.)... weren't. Missed on every measure from power to performance. Let Qualcomm and Samsung eat their lunch. 2) Missed too many ticks and re…

Completely missed the boat on mobile

I think their main error was short-termism. They were addicted to high margin (workstation/server) devices. They had no interest in the low margins of mobile devices. They could not imagine how low-power devices would take over the world.

Re: Intel plans thousands of job cuts in face of PC slowdown

#68

Post by iancmceachern »

irrational wrote: post #23
alexnewman wrote: post #9

I worked at Intel and it kicked off my career. I believe putting a Cfo in charge of a company will lead to this. I wonder if apple will ever end up in the same situation

>I believe putting a Cfo in charge of a company will lead to this. That sounds like what happened to Boeing.

And GE, and HP...

Re: Intel plans thousands of job cuts in face of PC slowdown

#70

Post by JumpCrisscross »

SevenNation wrote: post #63

Can't read the article, but for context Intel's share price never recovered from the "dot com" bubble of 2000: https://www.tradingview.com/chart/?symbol=INTC It's one of a few large companies with that distinction. Shares now offer a (relatively) regal 5.3% dividend yield and a price/earnings ratio just above 5. Of course, as profits dwindle, both metrics will be recalibrated downward. This seems relevant because dur…

> Intel's share price never recovered from the "dot com" bubble of 2000

As you observe, this is true only if one ignores dividends, which are a material component of total returns for a mature company like Intel.

> during the late 1990s Intel was allegedly the company whose shares one bought and never sold

This has never been true for any public company. And it’s driven by investor style more than company fundamentals.

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