As Its CPU Scandal Deepens, Intel Plans to Cut Thousands of Jobs
The chipmaker is reportedly cutting jobs as it faces down a gloomy earnings report and a growing product scandal.
The upper management is scapegoating the workers for their mistakes
You would think that they would move hard to make sure they were hiring the best and more people to ensure bullshit like FRYING THE ONLY COMPONENT PEOPLE WANT FROM YOU BY USING YOUR PRODUCT NORMALLY would be paramount. But no. Fire everyone but the C-Suit, do some stock buybacks, ????, then profit.
Line must go up.
I swear to god if companies don't realize that the point is to make a product or service that people want to use, I'm gonna sue them in Texas and hope to finally get the corporate death penalty.
That's the Jack Welch playbook!
I don't think that's scapegoating, that's just cutting costs (which they are great at, judging by the quality of their CPUs)
If it were a sane world I'd be worried about my Intel stock but investors seem to get hard-ons at news of layoffs so it'll probably go up.
Layoffs always make financial numbers look good for a moment. People are expensive.
It's cute that you think shareholders actually drive stock prices.
Stock prices are absolutely determined by investors. As in, that's the only thing that matters. If more people are selling than buying, line go down. If more are buying than selling, line go up. That's how it works.
You say "shareholders," but that's not accurate. the OP said "investors," which can mean everything from long-term shareholders to day-traders throwing around options. The former doesn't determine share prices, those who actively trade the stock do.
I honestly thought this was about to be another orb post from the thumbnail.
Wanting to ponder, huh. Me too.
I'd hate to be named Jobs, working at Intel. 🔪
Especially if you're the only one
Guys, i'm sorry to say that 15 years of avoiding innovation because we were the market share leader has to end. We thought AMD was a joke after so many issues in the 00's so we got complacent.
So we have to can all of you marketers who are shitposting on our advertising "review" site and hire some R&D people. Maybe we can scalp some from AMD.
Sincerely, Intel Executives
All those fab workers didn't make a mistake, the executives did.
Government handouts need to come with some extremely strict rules attached. Alas, our government has been purchased by capitalists, so it will continue to be free money but only for the people who need it least.
They shouldn't be handouts, they should be share purchases. You want Uncle Sam to deus ex machina your greedy ass? Sure, but Uncle Sam now owns 40% of the company.
I would go a step further and say that it should not be a stock purchase but partial nationalization. The government is not getting shares that will be sold later. The government is getting a right to appoint part of the board of directors. Every time the company issues a dividend, buys back stock, or engages in other activities to return value back to the shareholders, a proportional amount of money must be paid to the treasury. It only makes sense that if a company is so big that its failure is going to hurt society as a whole, it should be owned by society.
Fuck yeah! Their wealthy buddies would start bailing each other out if the alternative was the government buying the company at rock bottom and competing against everyone to build it back up.
The wrong way to take responsibility.
The good part is that the amd64 ISA is going to become less relevant if they go on like this. Maybe we'll have those RISC-V PCs after all.
Management fucks up. Management loses money. Management cuts costs.
I plan on cutting intel out of my purchases for every single computer I make going forward. I bought an effected processor JUST before it came out that all their 13-14 gen processors will fall apart in just a couple months of use.
Planned obsolescence but it’s metastisized
When it was time to upgrade my PC awhile back it took me a long time to decide between the old school equal cores model and the new 12th-gen ones with BIG/little segregated core architecture. I wanted to future-proof my build so it would last a long time, but I chose the more conservative option of the old-school design for a number of reasons.
The Rocket Lake one turned out to be a great choice. I have 8 cores that can hit 5GHz and rock-solid reliability.
It’s kinda of odd watching the early 2000s amd repeat itself with intel
AMD didn't ship defective CPUs.
True, I was more saying the decline, like lack of performance, hot as fuck chips etc
I think Intel needs to go through the humbling experience that AMD went through.
Hopefully AMD doesn't pull an Intel and get complacent and spend over a decade doing basically nothing (at best) or or delivering subpar parts (at worst)
Honestly, I think AMD doesn't even have the choice to be anywhere near as complacent as Intel.
ARM is on the rise, and that means multiple competitors incoming, both in the PC and console space.
Nvidia wanted to buy ARM, and despite that falling apart, Nvidia will be coming out with ARM CPUs (I imagine they're, smartly, letting Qualcomm and MS sort out the teething issues with Windows on ARM before they swoop in and look polished and stable right out of the starting gate).
AMD also doesn't have to pay a shitload to maintain, expand, and improve fabs - that's all on TSMC. So the whole aspect of choosing between investing tens of billions or letting fabs stagnate isn't a thing for AMD.
Yeah they could stay on the same process for 5 years, but I highly doubt they'd do that given the ARM competition, doubly so because they don't want somebody else to take away their "we're TSMC's second favourites behind Apple" position.
In other words, I don't think AMD has the financial incentive to stagnate like intel did. From a business perspective, it was an absolute no-brainer for Intel to stagnate; AMD's comeback was an unlikely one. To date they're the only company that's recovered in the x86 space after falling back into complete irrelevance.
with all the controversies and court ruling against intel, do you really think.. by this point, they are even capable of being shamed into being humbled?
CEO have himself a 45% raise last year. When do we eat the rich?
It should have been obvious when they brought Pat back.
Is this why my leaps all died?