Everyone to be laid off at Intel (j/k)

pm

Elite Member Mobile Devices
Jan 25, 2000
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This went out on the wire this afternoon:

http://www.businessweek.com/ap...cialnews/D94SPNSO1.htm

Friedman, Billings, Ramsey & Co. analyst Craig Berger wrote in a note to clients that "recent industry checks" suggest that Santa Clara, Calif.-based Intel is preparing a large work force reduction that could be as high 83,000 employees, or 10 percent of its global staff.

83,000 employees is actually pretty much 100% of Intel's global staff.

It was amazing to notice how many websites took the AP press release and reposted it with this rather significant error. Although most websites have have corrected it by now. One of my co-workers has a press release from the last round of lay-offs at Intel where they did the same exact thing and accidently predicted that everyone would be laid off.



* not speaking for any company
 

ViRGE

Elite Member, Moderator Emeritus
Oct 9, 1999
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No, the news report is clearly correct. Intel is going to fire all of its existing staff and exit the computer chip business. They've decided to get in to the potato chip business instead, where people replace their products more often.;)
 

daw123

Platinum Member
Aug 30, 2008
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Originally posted by: ViRGE
No, the news report is clearly correct. Intel is going to fire all of its existing staff and exit the computer chip business. They've decided to get in to the potato chip business instead, where people replace their products more often.;)

And AMD would be the market leaders again. Maybe this is part of AMD's 5-year business plan. :)
 

Idontcare

Elite Member
Oct 10, 1999
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Originally posted by: ViRGE
No, the news report is clearly correct. Intel is going to fire all of its existing staff and exit the computer chip business. They've decided to get in to the potato chip business instead, where people replace their products more often.;)

Is this a clever play on the fact that JR Simplot of the Simplot potatoe company fame, made billions on potatoes and then backed Micron the memory company in Boise, ID? (which, if you follow memory IDM's sales cycles, are envious that AMD "has it easy")

:p
 

bradley

Diamond Member
Jan 9, 2000
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Blame BusinessWeek for their shoddy reporting. The ten percent figure is likely correct according to most other sources, probably making the layoffs closer to 8,300, and as low as 5,000.
 

ViRGE

Elite Member, Moderator Emeritus
Oct 9, 1999
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Originally posted by: Idontcare
Originally posted by: ViRGE
No, the news report is clearly correct. Intel is going to fire all of its existing staff and exit the computer chip business. They've decided to get in to the potato chip business instead, where people replace their products more often.;)

Is this a clever play on the fact that JR Simplot of the Simplot potatoe company fame, made billions on potatoes and then backed Micron the memory company in Boise, ID? (which, if you follow memory IDM's sales cycles, are envious that AMD "has it easy")

:p
No, in fact I wasn't even aware of that story. You learn something new every day.:)
 

Idontcare

Elite Member
Oct 10, 1999
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Originally posted by: Bignate603
Now I'm glad I didn't take that job offer from intel...

Doesn't much matter who you took a job with as you can bet your name and recent performance is going to be assessed by your employer sometime in the coming 6 months as they draft a short-list of the "can live without'em" versus "we lose X% revenue potential if this guy hits the road" for lay-off targets.

SOP in this economic environment. You can argue pro's and con's of working for deep-pocket bellwether companies versus the smaller nimbler caring/family companies in times like this as far as which is more accommodating of ignoring an otherwise lackluster performance record thus leaving fewer people on the "can live without'em" list, but the assessments are being made nevertheless. You can count on it.