Intel Layoffs Announced After Company Sees Largest Quarterly Loss Ever
https://www.usatoday.com/story/tech/2023/05...fs/70197173007/



A wave of layoffs continues to rattle the tech industry, with semiconductor chip manufacturer Intel on Monday confirming that it plans to cut its workforce to reduce costs.

The company declined to share how many workers would be affected but said the layoffs would take place across the company.

“Intel is working to accelerate its strategy while navigating a challenging macro-economic environment,” the company said in an emailed statement. “We continue to invest in areas core to our business, including our U.S.-based manufacturing operations, to ensure we are well-positioned for long-term growth.”

Intel last month reported its largest quarterly loss in company history amid a slump in personal computer sales. First-quarter net loss was $2.8 billion and revenue was down 36% year-over-year.

Despite the loss, the company paid out $1.5 billion in dividends.

Reuters reported the Santa Clara, California-based company cut employee and executive pay earlier this year. And The Wall Street Journal in October reported that Intel was beginning targeted job cuts and aimed to reduce costs by $3 billion in 2023.

Please cut Malaysia 50% - 100%.

So you wanna increase our unemployment?

After years of shady practices to suppress AMD, Intel is now facing a reckoning.

Pls cut malaysia... Dulan ppl thought working in intel very lanc

Intel not earlier told invest rm30b into MY, why need to cut MY. They cut the expensive US angmo and hire more MY lah

Layoff is inevitable as company would rather keep cash to keep shareholder happy amid high interest rates ..because they know well people wouldn't be on spending spree and no point to keep the employees where sales will be lower

US Ang mor kena tua kii!
Cheaper to hire slaves in MY.

fantasy1989 affeted or US/EU/UK teams again?

Lets say average annual salary at Intel is 150k.
1.5bil/150k.. that can hire 10k employees for a year.

Intel should forgo dividend

This post has been edited by Brotherjoe: May 9 2023, 07:23 PM

https://www.oregonlive.com/silicon-forest/2...-cost-cuts.html

slight different compared to last round

thats all i can share ..for now

vapanel

Surprize didnt take the RM50 offer.. that would be RM20k only

Which level? Share la. Also nothing pnc about layoff.

🤔🤔🤔🤔🤔🤔🤔

wait for awhile more .. i need those external news to "save my ass"

if i share more later those newspaper person take my quote then HR director will asura strike me

This post has been edited by fantasy1989: May 9 2023, 08:01 PM

Intel CEO use what excuse this round

asia many kena?

Close the China office...