Mike Rogoway的动态

Intel to Cut Thousands of Jobs to Reduce Costs CEO Gelsinger embarks on ambitious effort to regain share Chipmaker is spending on research, development and new plants - The workforce reduction may be announced as early as this week, according to people familiar with the company’s plans, who asked not to be identified because the information isn’t public. Intel, which is scheduled to report second-quarter earnings Thursday, has about 110,000 employees, excluding workers at units that are being spun out. - Intel reduced its workforce about 5% in 2023 to 124,800 by year’s end after?announcing job cuts?beginning in October 2022. It also has slowed spending in other areas. https://lnkd.in/gNfN9SqR

?? Attention LinkedIn community! ?? ?? Intel's recent announcement about cutting 15,000 jobs has caused quite a stir in the market, leading to a 26% fall in their shares. The decision undoubtedly has significant implications for the company and its employees. This move signifies a major transformation within the organization, and it will be interesting to see how Intel navigates through these changes and adapts to the evolving landscape of the tech industry. The impact of this news is rippling through the business world, and it's something we all need to be aware of. Let's keep an eye on this development and discuss its broader implications in the comments! ?? #IntelNews #TechIndustry #MarketTrends https://ift.tt/4tP5cFf

Intel Corporation has unveiled plans for a substantial cost reduction strategy, which includes a significant layoff of 15% of its current workforce. This initiative is part of a broader $10 billion cost-cutting effort aimed at downsizing operations by eliminating around 18,795 jobs by the end of 2024. With a current workforce of 125,300 employees, Intel anticipates these measures will lead to operational streamlining and increased efficiency. The announcement comes as the tech giant reported underwhelming earnings today. In the second quarter, revenue amounted to $12.8 billion, reflecting a 1% decrease from the previous year. Non-GAAP earnings per share stood at 2 cents, while GAAP loss per share was recorded at 38 cents. Analysts had projected Intel to post an adjusted EPS of 10 cents profit on revenues totaling $12.94 billion. #Intel #CostReduction #WorkforceLayoff

#intel In a move likely to raise a few taxpayer eyebrows, Intel said today that it will cut 15 percent of its workforce, or more than 15,000 jobs, as it struggles to rebound from disappointing results. In March, the US government said it would give Intel no less than $8.5 billion to help it rebuild its US chipmaking operations. Intel said that its revenues were down 1 percent year-on-year for the second quarter. “We do not take this lightly, and we have carefully considered the impact this will have on the Intel family,” CEO Pat Gelsinger said on an earnings call today. “These are hard, but necessary decisions. These reductions do not impact our ability to execute our plan." The job cuts will affect areas including sales, marketing, and administrative roles, Intel said, and would be part of a general cost-cutting plan. The move follows a 5 percent reduction in staff announced by Intel last year. In after-hours trading, the company’s stock fell more than 17 percent.

I think Intel CEO, Pat Gelsinger is on the ropes. I've watched his various media interviews and listened to Intel quarterly earnings calls. Tone and posture has changed over the past 2 years and not for the better. Coupled with Intel's woeful stock performance since his appointment as CEO in February 2021, using the word's "A.I" and "Data Centres" can only do so much for the stock price. #Intel had 5 rounds of job cuts in 2023. It just won $8.5 billion in U.S. Federal subsidies from the $52 billion CHIPS Act Congress passed last year and was promised to receive $11 billion in loans. Regarding the funds available within the CHIPS Act, CEO Pat Gelsinger said he is counting on additional federal funding this year for defense-related semiconductor projects. And he said he hopes for a second CHIPS Act to reverse the long erosion of domestic technology manufacturing. “We’ll need at least a CHIPS 2 to finish that job,” Gelsinger said. https://lnkd.in/gQKYbXmh Its an early call, but a change in CEO will be good for the stock price. by Rob Zdravevski April 29, 2024 [email protected]

#Intel Doesn’t Need a Takeover. It Needs a Turnaround. ?? Qualcomm’s window-shopping for a distressed rival is just a distraction to the CEO’s superior strategy ?? They say if there’s ever a #SiliconValley Mount Rushmore, the first face to be chiseled into the stone would be that of Gordon Moore. The Intel Corporation co-founder’s famous prediction about the rate at which #semiconductors would improve has provided the bedrock to American #technology leadership. Such sentimentality around Intel and its unparalleled contribution to the #computing revolution is what makes any suggestion of a takeover a huge story. The approach by Qualcomm Inc.,?reported late last week, comes as Intel faces the toughest period in its 56-year history. In its weakened state — shares are down 53% this year — it is vulnerable to the disruptive effects of window-shopping by rivals that are currently more prosperous. Most analysts consider the deal unlikely to progress much further. Aside from the simple question of how #Qualcomm would actually pay for it, there are other huge hurdles, particularly concerning regulatory approval. The merger of two huge US #chip companies with a combined market value of $283 billion isn’t something that will be allowed to happen quickly — if at all. A very big thank you to Dave Lee and Bloomberg News for his full opinion/article with more background and insights via the link below ?????? https://lnkd.in/eBmtywdw #semiconductorindustry #semiconductormanufacturing #tech #it #ic #geopolitics #chip #usa #china #computer #computing #ai #mobile #it

Intel is downsizing its workforce by over 15 percent as part of a new cost savings plan for 2025. The $10 billion cost saving plan will mean a headcount reduction of greater than 15,000 roles. Intel plans to reduce its R&D and marketing spending by billions each year through 2026, reduce capital expenditures by more than 20 percent this year, restructure to stop non-essential work, and review all active projects and equipment to make sure it's not spending too much. The company recently reported a loss of $1.6 billion for Q2, which is substantially more than the $437 million it lost the previous quarter. https://lnkd.in/gkc3NVmd

?? Intel’s Rollercoaster Week – What’s Next for the Chipmaker? ?? Intel has had one of its most eventful weeks yet, leaving Wall Street more uncertain than ever about its future. The company, which has lost over half its value in the past year, kicked off the week by announcing the separation of its manufacturing division from its core processor business. Later, reports surfaced that Qualcomm may have approached Intel for a potential takeover, a deal that could be one of the largest in tech history! ???? While Intel’s stock surged 11% this week, providing a temporary lift, CEO Pat Gelsinger still faces major challenges. Intel has lost its title as the world’s largest chipmaker and has been outpaced in the booming AI chip market by Nvidia, which now boasts a market cap 30 times larger than Intel’s. The company is also undergoing significant restructuring, with plans to cut 15,000 jobs. Yet, Gelsinger remains determined to keep Intel independent. In a memo to employees, he emphasized that Intel’s manufacturing and chip design businesses are "better together," even as the foundry division is given its own board and governance structure. Where do you see Intel going next? Will they reclaim their leadership position, or are bigger shifts on the horizon? ?? #Intel #Semiconductors #ChipIndustry #AI #TechNews #Leadership #Qualcomm #BusinessTransformation #Innovation #Technology

Intel just brought back free coffee and tea. After laying off 15,000 employees. Earlier this year, Intel cut several workplace perks—travel reimbursements, internet benefits, even complimentary fruit. It was part of a $10 billion cost-cutting plan to bounce back from financial setbacks. But now, in an unexpected move, Intel reintroduced free beverages. A small gesture, but a strategic one. In a memo shared with employees, Intel said: "Small comforts play a significant role in our daily routines. This is a small step, but we hope it’s meaningful." The timing is no coincidence. Employees have endured layoffs, shrinking benefits, and uncertainty about Intel’s future. And Intel’s struggles are deeper than cost cuts. This was a company that defined the PC boom of the ‘90s but missed key opportunities—like making chips for the iPhone or investing in OpenAI. Those misses let competitors, like NVIDIA and Apple, take the lead. Now, Intel is working to rebuild—not just its market position, but its workplace culture. A cup of coffee won’t solve years of missed opportunities. But maybe it’s a step toward making things better. Do you think small perks like this make a difference? Or is this just damage control?

?? Breaking News: Intel Corporation to Cut Over 15% of Workforce in Major Cost-Reduction Move ?? In a bold step towards revitalizing its chip business, Intel has announced a significant workforce reduction. The company will cut more than 15% of its employees as part of a strategic effort to streamline operations and boost efficiency. This move signals a pivotal moment for Intel, aiming to regain its competitive edge in the rapidly evolving tech industry. ???? Read more about Intel's strategy and the implications for the tech world: