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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

#331

Post by tenpies »

elif wrote: post #298
twobitshifter wrote: post #279

Intel just received money from the US government and they swiftly started laying off American workers. The money is supposed to be for the new Ohio plant and 3000 jobs, but now we’re losing thousands of jobs up front?

Probably a sweet stock buyback as a side effect.

Looking at the chart, would it not be a good time - especially with USD losing 8% of its value on a yearly basis? After all, you can only invest so much into capital projects and who knows what will be left of the US after Biden's tenure, so you want to be cautious.

Also Intel never had a hyper-inflated share price like most other semis. It's actually quite comical just how much the share price has dropped because its previously meagre dividend yield is now 10% due to denominator effects.

The buy back would similarly help ex-employees with stock or options, and I'm sure the package on the way out from Intel will be quite good.

See: https://www.tradingview.com/chart/?symbol=INTC 50% down YTD.

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

#332

Post by AareyBaba »

giantg2 wrote: post #295
AareyBaba wrote: post #282

Earlier quoted context omitted.

To be clear, AMD third quarter revenue is expected to be approximately $5.6 billion, an increase of 29% year-over-year . Previous guidance was 55% YoY.

Yeah, but isn't their one year forecast much lower? Not to mention they have a bigger lercentage of business in areas other than PC CPUs, right?

Client/Consumer CPUs(Ryzen) is just one business for AMD. The others are graphics (Radeon), datacenter (EPYC), and embedded (Xilinx, PS & Xbox consoles). The one year forecast will probably have to be adjusted based on current unexpected economic conditions but they will keep growing.

What folks don't appreciate is that AMD is on a roll. A clear roadmap and processes in place to execute like clockwork in tandem with TSMC. Intel can easily bounce back in about 3-4 years if they fix their foundry issues.

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

#333

Post by seabriez »

scarface74 wrote: post #322
moffkalast wrote: post #272

Earlier quoted context omitted.

> the now two year old Apple M1 still smokes every single chip I just mentioned, all in a fanless iPad Air Well yes, but then you have to use macOS and the locked down close ecosystem that is Apple. That's not really something they're directly competing against.

Tell me again how MacOS is more locked down than Windows and why most people should care?

No post body was provided.

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

#334

Post by mullingitover »

hgdfhgfdhgfhg wrote: post #329
sensitivefrost wrote: post #294

Earlier quoted context omitted.

Uh, yeah, you didn't realise it was a scam when all the politicians trying to get that bill passed had investments in the companies getting the money?

They are using that money to build a chip plant not to subsidize 3000 workers.

That chip plant will be the factory of the future. However:

“The factory of the future will have only two employees, a man and a dog. The man will be there to feed the dog. The dog will be there to keep the man from touching the equipment” – Warren G. Bennis.

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

#335

Post by giantg2 »

AareyBaba wrote: post #332
giantg2 wrote: post #295

Earlier quoted context omitted.

Yeah, but isn't their one year forecast much lower? Not to mention they have a bigger lercentage of business in areas other than PC CPUs, right?

Client/Consumer CPUs(Ryzen) is just one business for AMD. The others are graphics (Radeon), datacenter (EPYC), and embedded (Xilinx, PS & Xbox consoles). The one year forecast will probably have to be adjusted based on current unexpected economic conditions but they will keep growing. What folks don't appreciate is that AMD is on a roll. A clear roadmap and processes in place to execute like clockwork in tandem with…

Yeah, I think they do significantly more graphics and embedded than Intel. But I could be wrong.

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

#336

Post by shakezula »

scarface74 wrote: post #309
shakezula wrote: post #286

Earlier quoted context omitted.

Anecdata here but: literally every single dev I talk to on a regular basis has told me their company has laid off a sizable amount of staff in the last 3 months. Every single one.

That’s very much anecdata. Were the companies profitable or were they living off of VC funding?

Yes, that’s… why I was upfront about that.

The companies range from startups to enterprise, at practically all stages of funding, but they each told me their funding never materialized or investors gave management ultimatums.

A few were in crypto, two are in fintech, a few more in various b2b tech companies. But they all gave almost identical explanations: management sees a rough economy ahead and tightened their belts accordingly.

I’m not trying to be doom and gloom, I still have a job, but even my partner, who is also a software engineer, just survived a round of lay-offs at their fintech that happened yesterday. They laid off 25% of their company across the board.

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

#337

Post by giantg2 »

scarface74 wrote: post #307
giantg2 wrote: post #293

Earlier quoted context omitted.

Same as always. I'm pretty sure Ford did something similar several years ago. They got money for jobs, then closed the plant like a year later or something.

What should they have done if they aren’t manufacturing enough cars to keep the factory at capacity?

I seem to remember them moving the production out of the country. So I'm not sure if the numbers were down or not.

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

#338

Post by scarface74 »

seabriez wrote: post #333
scarface74 wrote: post #322

Earlier quoted context omitted.

Tell me again how MacOS is more locked down than Windows and why most people should care?

Quoted post unavailable.

Or you couldn’t truthfully answer the question. How is the Mac more locked down than Windows?

What class of software can you run on Windows that you can’t run on Macs because of Apple’s operating system?

Edit: I see downvotes. But no one can answer the question.. .

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

#339

Post by phendrenad2 »

alfor wrote: post #313

Hire Jim Keller back and build the next thing instead of milking the same customers. The company developing a competent alternative to the M1/M2 or nvidia GPU is going to have a good business. Seems to me that Intel is alway in this cycle of greatness and then crash while sitting on their laurels. It seem they need to have a fire under their buts to make the right decisions.

I love comments like this. I don't think any other industry has this kind of sport-team mythos in the mind of the layman. If Ford or Toyota has a bad year, people think "Hmm they need to make better cars". If Intel or AMD has a bad year, people say "Clearly they need do hire that guy who was in charge when they made all those good chips". It's incredibly lazy thinking, and I love it.
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