Intel warns on revenue - cuts 5,000 jobs.... UH-OH!!!

[KDOG]

Inter takes a dump

They don't say anything about the fierce competition from AMD, hmmm wonder why?

 

[odog]

no matter how i "dislike" intel, somebody losing their job is never good news...hopefully PM and wingnut aren't part of that 6%

 

[Imperium97]

Has AMD given Intel some strong competition? Most certainly. Anyone denying that isn't thinking straight. But you aren't thinking straight if you think that this recent bit of news is due to AMD's competition. In case you haven't noticed, the technology market is not doing very well at the moment. I think this recent news is more reflective of the recent market fluctuations.

 

[Wingznut]

"The 5,000 job cuts, which represent about 5.9 percent of the company's total work force, are expected to take place over the next nine months and will be primarily through attrition, Intel said." --CNNfn

 

[duragezic]

The whole economy is kinda crapping out.

 

[Pyro]

yeah, you gotta feel bad for all those people, but I wouldn't be surprised if most of the jobs are cut because of the management. Amd gained a lot of support mainly due to Intel's mistakes. I have yet to hear amd firing anybody...

 

[Mixxen]

Dam, are we headed into a depression?

 

[Pyro]

depression? no

recession? most likely

 

[KDOG]

I agree that the market may be the major factor in all of this, but you can't deny that AMDs' recent success had a hand in it....

However, as WINGNUT just pointed out I'm glad to see the going mainly be attrition and aren't just flat out cannin' people...

 

[Mixxen]

What happens after a recession?

 

[SiliconVandal]

Yes, Depression is definately the wrong word. Recession is correct. Most likely? I think not. The economy isn't getting worse, its just not getting better as fast as it was.

 

[ToBeMe]

........And this is good news for anyone why????????????/

 

[kami]

AMD offers a great alternative and they are doing well, but Intel didn't cut 5000 jobs because of AMD. Just because AMD's are popular in the overclocking/techie community doesn't mean they are when it comes to mass retail sales, the vast majority of servers, etc.
Intel still holds most of the market, and as Imperium said, this happened because of the current state of the tech market. Damn thing grew too fast and now it's being bitten in the ass.

 

[pm]

To the best of my knowledge, I'm a long way from layoffs. Still, KDOG, it would be nice if you were a little less gloating. As far as I know, there aren't any AMD employees on this BBS and yet there are several Intel employees (Wingz, PentiumIV, and myself). We and our co-workers are directly affected by this news, and it's not good news for Intel, the computing industry, or the US economy no matter what way you want to slice it.

 

[Rob9874]

From a fellow Intel employee myself, I concur with PM. I'm not worried - yet. There is a sense of caution around the workplace, but not all-out panic. I hope, for the sake of the industry, that things turn around soon...for Intel and AMD. Losing jobs isn't good news for anyone.

Rob

 

[ChipNOW]

Fellas... don't you complain about recessions - we're headed right into one down under. Front pages of the paper every day. Also, our dollar is at an all-time low against yours. WE'RE the ones in the recession
And QANTAS cut 1750 jobs or so.
A/W enough ranting - it's undoubtedly from AMD's 3X% market share

 

[RayThunderEarth]

wow so ... Intel was underpressure by AMD ??

 

[dawheat]

<<wow so ... Intel was underpressure by AMD ??>>

ehhh yes and no. There was and is fierce competition with AMD, but that's not the major reason for this move. The whole tech industry is slowing down quite quickly- everyone is pretty much giving earnings warnings, laying off, etc.

 

[Wingznut]

dawheat nailed it.

 

[Wingznut]

&quot;it's undoubtedly from AMD's 3X% market share&quot;

What makes you think that AMD has a 30+% market share? Do you happen to have a link, as I'm pretty curious.

 

[extro]

We may already be in the first quarter of a recession (as defined as 2 consecutive quarters of negative economic growth). They're always easier to see in the rear view mirror though.

Hope Greenspan comes across with some more rate cuts on the 20th.

 

[datalink7]

I really hope that the economy doesn't drop into a recession that last for a while. Just as I am about to start getting into life (I am 18, ready to go to college), and I am going to miss out on all the growth that has been happening!

 

[Imperium97]

According to MSN money central Intel holds more than 80% of the PC microprocessor market, which would mean AMD holds less than 20%, not 3x%.
http://moneycentral.msn.com/investor/research/msnbc/profile.asp?Symbol=INTC

 

[Shockwave]

The fact the economy is on the down turn is suck. I graduate in June, and my hopes of getting a 50,000/year job are gettin less and less......I feel sorry for the Lucent people, Worldcom and all the others who have been let go...Such is life....