Intel laying off thousands.
"particularly in its sales and marketing departments"... Ryan too?
With the lord and saviour at the head i find that hard to believe. Unless they are going to exit specific technologies / markets.Most of the lay offs are in the R&D department from what I heard. I would think that these engineers should be the last to be layed off in a microelectronics chipmaker company. Every department will be effective however, some as much as 20%.
The quote from Gelsinger as of late are laughable. If he went, it would not be hard to replace him with somebody with a brain. Intel lately seems to take one step forward, and 10 back. And having somebody at the top who is delusional does not help them.We have stagnation + inflation again. Everyone is lowering forecasts. Many are freezing hiring.
But Intel, who has some less attractive products at the moment, has been hit harder than most its competitors. And Gelsinger removes the parts he thinks are disposable.
Well, I hope he's right. But in some industries a strong sales team can beat competitors with good engineering. Marketing does seem less important now, however, since it can't convince people to suddenly have more disposable income again.
While he constantly acts (and gets paid) like a big shot Hollywood actor I do think he's doing plenty long overdue changes at Intel. I guess as long the results of the latter are not there yet we simply have to enjoy his public performances...The quote from Gelsinger as of late are laughable. If he went, it would not be hard to replace him with somebody with a brain. Intel lately seems to take one step forward, and 10 back. And having somebody at the top who is delusional does not help them.
Intel CEO Pat Gelsinger said on Thursday announced that the company would soon undergo a round of "targeted cuts." As reported by Oregon Live, the CEO took to a video conference with company employees where he described the cuts as necessary in the wake of high costs and low margins on the myriad of products Intel develops, manufactures and distributes.
The cutbacks aim to reduce Intel's operational expenses to and unlock a way back to profitability. This is happening just months after Intel and other semiconductor companies were awarded a cool $52 billion in government subsidies in the U.S. alone.
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