Damn, no more free fruits and drinks, and if im lucky enough to not be in the 15%😮‍💨

drinks got impacted too? wtf....
i thought it is only fruits.

since when was this 🤔

ok. leaked by YouTuber already.
https://youtu.be/b6vQlvefGxk


This post has been edited by ipohps3: Aug 3 2024, 12:46 PM

its ok, their coffee beans grade so so

I heard WiFi allowance is cancelled too

Gym classes cancelled too. The trainers basically kena CPM

Marvell Seen As Possible Buyer Of Intel's Altera Unit

PATRICK SEITZ04:37 PM ET 09/03/2024
Chipmaker Intel (INTC) reportedly plans to sell its programmable chip unit Altera as part of an initiative to turn around its flagging operations. Marvell Technology (MRVL) is seen as a likely buyer. Intel stock and MRVL stock both declined on Tuesday.

Broadcom Earnings Due: Will Nvidia's Influence Spark A Move?
See All Videos

On Monday, Reuters reported that Intel Chief Executive Patrick Gelsinger and other key executives are preparing to present to the board a plan to trim assets and reduce costs. Among the plans is the sale of its Altera unit, Reuters said.

Intel also is likely to further reduce its capital spending on factory expansion. It might even decide to scrap its planned $32 billion factory in Germany, a project that has reportedly been delayed, Reuters said.

The plan does not include a proposal to split Intel and sell off its contract manufacturing operation, or foundry business, Reuters said. Bloomberg reported last week that the split was possible, but analysts have dismissed that move as highly unlikely.

MRVL Stock: Marvell Could Make Play For Altera
On the stock market today, Intel stock declined 8.8% to close at 20.10. Meanwhile, MRVL stock sank 8.2% to close at 70.02. Chip stocks broadly fell on Tuesday. The Philadelphia semiconductor index, known as SOX, dropped 7.8%.

If Intel decides to sell its Altera business, Marvell is likely to make a bid for it, analysts say. However, the possible acquisition comes with pros and cons, Raymond James analyst Srini Pajjuri said in a client note Monday.

"From a strategic standpoint, a potential acquisition would help Marvell diversify into industrial/defense markets and beef up its already strong presence in telco and data center markets," Pajjuri said. "Higher gross margins associated with FPGA (field-programmable gate array) products would also be attractive to Marvell, especially as AI custom silicon becomes a larger portion of its revenues."

On the negative side, the FPGA chip market is expected to grow at a slower pace than Marvell's other businesses.

Also, the deal likely will require China regulatory approval, which could be a challenge, Pajjuri said.

Intel bought Altera for $16.7 billion in 2015. Its current market value is about $20 billion, Pajjuri said.

Pajjuri rates Intel stock as market perform. He rates MRVL stock as outperform with a price target of 90.

IBD Stock Ratings For Intel, Marvell
Intel ranks No. 17 out of 32 stocks in IBD's semiconductor manufacturing industry group, according to IBD Stock Checkup. It has a lowly IBD Composite Rating of 11 out of 99.

On Aug. 1, Intel badly missed Wall Street's targets for the second quarter and with its guidance for the third quarter. The chip giant also announced a $10 billion cost-reduction plan and suspended its quarterly dividend. Intel stock plunged on the news.

Meanwhile, MRVL stock ranks 10th out of 39 stocks in IBD's fabless semiconductor industry group. Marvell stock has an IBD Composite Rating of 74.

https://www.investors.com/news/technology/m...el-altera-unit/

From Spin-Off --> Standalone with Majority Intel Shares --> Being sold to Marvell.

Interesting. Hopefully won't end up like Intel Optane Group.

Intel CEO resigns after a disastrous tenure
Clare Duffy David Goldman
By Clare Duffy and David Goldman, CNN
1 minute read
Updated 9:09 AM EST, Mon December 2, 2024

https://edition.cnn.com/2024/12/02/tech/int...business_ribbon



Intel CEO Pat Gelsinger delivers a speech at Taipei Nangang Exhibition Center during Computex 2024, in Taipei on June 4, 2024.
Intel CEO Pat Gelsinger delivers a speech at Taipei Nangang Exhibition Center during Computex 2024, in Taipei on June 4, 2024. I-Hwa Cheng/AFP/Getty Images
CNN
—
Intel Monday announced CEO Pat Gelsinger has resigned after a difficult stint at the company. The once-dominant chipmaker’s stock cratered as it missed the AI boom and was surpassed by most of its rivals.

Gelsinger took over as Intel’s chief executive in February 2021, returning to the company at which he had spent decades of work, including as chief technology officer. He had left Intel for a stint as CEO of software giant VMWare.

At Intel, Gelsinger was tasked with turning around the iconic American tech giant that was struggling against unprecedented competition, production delays and the departure of top talent. But during his tenure, the company’s prospects continued to decline, as it became clear the company had fallen behind on another major technology wave and despite billions of dollars in US government spending to support its domestic chip manufacturing.

Intel’s (INTC) stock plunged 61% during Gelsinger’s tenure. The stock rose 4% in premarket trading.

The company announced in August that it would lay off 15% of its staff as part of an effort to slash $10 billion in costs and “fundamentally change the way we operate,” as Gelsinger said at the time.

A lot of my ex-colleagues in Altera got CPM, not able to receive their new employment letter. Some of them are high performers

wow this is something new, i thought its all ended already

This should be the last one (I hope). Their last days are mid of Dec

oh well, the grass is greener out there.. u dont wanna be intel at current state

To be fair, a lot of semiconductor companies are doing retrenchment, not limited to Intel.
AMD too is doing the same, just that the scale is much less compared to Intel

AMD at Penang got retrench meh? I thought they growing?

https://www.cnbc.com/2024/11/13/amd-layoffs...employees-.html

My friend working in AMD Penang said some of the staff in Penang office are affected too

every company also growing.. retrenchment happening on area's no longer growing.. AMD, Apple, Nvidia as well

This post has been edited by pysh: Dec 4 2024, 04:53 PM

What is CPM? Non intellier here.

Corporate People Movement iinm

whatttt. I managed to get mine....
No offer letter == offered CPM as severance package?