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...

Y?

actually is kind of expected 1

thats why those lead or manager folks get early pay cut at early/mid of Q1 2023 https://www.semianalysis.com/p/intel-cuts-p...tm_medium=email

This post has been edited by fantasy1989: May 9 2023, 08:33 PM

Yes! Yes! Yes!

Bwahahhaha.... Not like I got anything since Intel opened in Malaysia anyway.. shutdown only la, at least then got wayang to watch.

Just to keep shareholders happy? Welcome to corporate world I guess.

think it in another perspective

if you dont keep it rolling..we might not still seeing ~USD30 today

it might dip all the way to USD20 because "we dont keep shareholder happy"

that time employee holding RSUs will "rugi" even more


just like if employee A holding 1000 unit of RSUs aka 30k USD ..become 20k USD

This post has been edited by fantasy1989: May 9 2023, 08:46 PM

If Pat still cleaning up after Brian, shares will still drop either way

Inhell forced labour... Lol

It's an economic cycle, plus worsened by the US political madness.

but with this ; atleast now we dont see any big movement on stock (yet) ; although they claimed biggest loss in history

if normal time ..stock should went to holland (especially US stock)

if u ask my personal opinion ..if stock dip 8% ..my realized loss for upcoming stock is more than this few month punya salary cut

penangite can get vss?

That's...... not reassuring at all

wish I could save mine

inb4 israel no kena

But the other day say wanna remove cut by Q3

your director know your /k name? Nobody will strick u la.
If u say abit different, last time is grade 8 n above, now is what 7 and above?
PM me hows the package.

no comment yet

relax...

But the other day say wanna remove cut by Q3 
>Yup


as long as you login with your inhell pc before ..they can know (especially if your comment reach legal team)

unless u been 24/7 using incognito mode to see lolyat for your entire career

>If u say abit different, last time is grade 8 n above, now is what 7 and above?
Just see that website detail for reference https://www.semianalysis.com/p/intel-cuts-p...tm_medium=email

This post has been edited by fantasy1989: May 9 2023, 09:25 PM

With AI coming, software team will be the main target for chopping?

As in Google, Microsoft, Twitter, and Meta?

but those pay cuts and quarterly bonus etc, didn't save them anything? Now instead of cut pay become cut staff? those effected by the pay cut now get lay off ? That's like slowly killing you.
should do more pay cuts across for all grades what. And more pay cuts.

Masih pay dividen and top guns still ambil bonus kan?

That's what do.


inb4 i'm behind 7 proxies

It's very stressful to talk to your overseas colleagues yesterday and today they're gone + all the work/contribution goes to the toilet

no wonder Raja and Boyd left recently

This post has been edited by ipohps3: May 9 2023, 09:57 PM

intel penang project will delay & slowdown to conserve cash

And if your company makes a loss, you still get paid also kan?

sos?

How's the severance package for mnc? How many months salaries

Can't fight O&G if you're not >10 years iinm

>should do more pay cuts across for all grades what

hard la ..imagine grade 3 n 5 employee that having family ..suddenly chop u 5%

you will be surprised.. in Malaysia..there are many 40+ senior that is g5 g6


thats why only certain grade above kena

in Malaysia u still can choose to opt in or opt out (because of our local law) ; but US is terus kick in..US even slash your employee 401k (something like retirement fund)

thats why eventhough no layoff ..some ppl found job then also lari

This post has been edited by fantasy1989: May 9 2023, 10:21 PM

Took chips act money where can simply layoff us workers. Later kena drag to capitol hill again

how come 🤔

they prefer stagnant and routine job
in the end they become essential and not getting prioritize employee

quite normal on manufacturing side

amd cheaper

ic. in rnd hard to be stagnant. 😂 always kena push even though liat. 😂 cuz always got new things to explore. never ending.

This post has been edited by ipohps3: May 9 2023, 10:30 PM

yup..unless u move to non technical roles like hiring manager ..lab manager etc ..then maybe still can "cari makan" sikit

whats the diff between essential and prioritize employee?

Yea, just cut Intel Malaysia 100% and close down business here. Cost too high compare to other countries in same region anyway.

someone that doing important or no ppl want to do punya job

but someone didnt plan to step up further like learning/owning new thing

in the end your manager will focus promotion to your friend that willing to step up n learn


thats why someone very hate/against towards automation or AI guy..as their routine job might potentially get replaced

This post has been edited by fantasy1989: May 10 2023, 09:12 AM

Usually MNC layoff, their staffs very happy waiting for VSS. Especially those with many years. Some even ask their team lead to recommend them.

But this round not sure easy to get a new job or not.

Ngai tel liao

i guess it is always the norm. save the top people by paying out BIG dividens despite the company BIG losses and cut the people at the bottom.

Foveros how?

Mostly conquered by type of race in this company...so it doesn't matter

Which one

if 50 or 50+ then happy

but if early 40 and not technical enough will stress gila

still got..

got few senior leaders in DEG is leaving Intel.

go see intel hire who more in msia..LOL. msian??

10 years back maybe. unfortunately their previous CEO's introduced the diversity hiring on URM which changed things. I heard each department need to fulfill certain quota of URM.
Extra bonus given to referral for successful hired URM.

https://www.businessinsider.com/intel-diver...y-report-2017-8

Golden Handshake ady....

Wow so many entitled racist supremist r wishing for IntelMY to collapse even though semicon is so important to our economy just becos their kind r not working there. I hope we dont have too many of such bodoh otherwise country is doomed.

now we know u from which org

well. DEG is a big org.

So penaang site affected?

yup

depend which "kampung" you stay

What do u mean by kampung?

organization

inside intel got many organization..some org expand

some org cut

it depend on how they adjust their business strategy


just like
if company A decided to focus on chip design then outsource to tsmc ; then R&D hiring , manufacturing potong
if company A decided to focus on product shipment and adopt external design; then manufacturing hiring/expand , R&D cut


This post has been edited by fantasy1989: May 11 2023, 10:11 PM

InHell has been giving me hell for the past few weeks.
But it pays the bills so me no care that much


Those are wumaos BTW

not sure i am right.

in the DEG ie rnd teams may be dominated by chinese while in manufacturing is dominated by malay?

Especially if got family and children to feed not many places you can jump to. AMD for instance don't have priority taking in ex-Intel staffs unless you can wait a year and try?

nice cat TS

no longer the case

especially hired so many foreign talent

many whole family come to malaysia

This post has been edited by fantasy1989: May 11 2023, 10:17 PM

wow International school must be doing good in Penang

Ya

but usually that is their stepping stone only

once they found US headcount they will k bye

RtK wanna go abroad oso

my CPU and GPU are AMD....support the underdog.

5 Countries With Free Education Right Until University
https://www.hindustantimes.com/web-stories/...3532381434.html

always remember how to run to bunker

phew phew phew

In O&G if go to dangerous places got hazard pay

This post has been edited by rtk74: May 11 2023, 10:43 PM

Intel should close, they dont hire a lot of local. Most of their talent are from oversea. we dont need a company which open here but hire oversea talent. Btw, intel culture is hire fast and fire fast. very bad culture. Even they have a lot of training resource, they dont train you! they want to use you immediately after join, which is why now they are hiring more and more oversea talent.

This post has been edited by soules83: Jul 15 2023, 05:26 PM

>they dont hire a lot of local.

do you have data to backup your claim?

although they got bring in some foreign talent ; but malaysian still a lot la

This post has been edited by fantasy1989: Jul 15 2023, 05:26 PM

If you worked inside before, you will know. Bayan baru and relau condo have very good rental from those talent. their talent mostly source from 3 areas, india, Philippines and Indonesia. I have a lot of network here hence i know the in and out. Some team even have like over 60 % are foreign talent especially the idm 2.0 team

This post has been edited by soules83: Jul 15 2023, 05:29 PM

we dont need this kind of company here. they are not welcome to waste our ftz quota for better companies. they are not interested to train the local talent and resort to foreign talent. Btw out of the 40% local with 30% are either GT or GC while senior are majority foreign talent.

I would courage those local who get squeezed out to group and write open letter to MITI about this issue.

This post has been edited by soules83: Jul 15 2023, 05:39 PM

Not that i aware of

let me check the exact figure with PH

kek.