Intel will lay off at least 15,000 employees | Mashable.

Intel will lay off at least 15,000 employees

An absolutely horrifying year for tech layoffs continues.
By Matthews Martins on 
Many, many Intel employees are about to be out of work. Credit: Idrees Abbas/SOPA Images/LightRocket via Getty Images

Comments

  1. Just more proof that you having the money means nothing, and now you're ruining a lot of people's lives.

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  2. Well they have alot to do with tbe tech that replacing them. As i said corporations use us to use our imaginayion to find effitient ways yo our life piece all of it together then say we are usless. Modern slavery

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  3. Didn’t the government give them a billion dollars to make chips.

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    1. Annnd its gone

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    2. Correction, the government gave Intel executives a billion dollars not the workers.

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    3. Mistake number 1

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  4. I wonder how that guy who just used his inheritance to buy $700k of Intel stock feels about this.

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    1. I care more about how his grandma feels.

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    2. She’s rolling in her grave

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    3. Dont worry, Intel will soon join her

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  5. Poor Intel, overtaken by AMD, dropped by Apple as manufacturer and now is time to lay off. Fair enough.

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    1. This comment has been removed by a blog administrator.

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    2. If you don't like my opinion improve yourself.

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    3. 15k people without jobs in the worst market tech has ever seen, that's the news I see, lots of people not being able to make ends meet and lots of families worrying about their future. Once upon a time people said "just retrain, become an X and you can make money" but that X was tech, now, what are people supposed to do?

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  6. Good thing we gave them 8.5 billion dollars

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    1. There needs to be accountability. It’s pathetic that half the people in this country are living paycheck to paycheck yet their money goes to this.

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    2. how do you hold them accountable without risking losing a in house chip developer. We gambled and lost that investment the same way if we all made our own personal investments and lost. Instead this one should hurt everyone because we trusted the US to choose the right company to invest all that money in and it failed. This is where the argument of taxing more or taxing less comes in. Do we truly believe the government will use our money correctly? in this case it’s looking like a big failure.

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  7. This has to be a rough time for Intel, with capable ARM processors and systems now for PCs, and now coupled with a huge lost bet in the AI space. I'm curious what areas will see the layoffs, depending on skillsets they could land some great positions at competitors.

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  8. Dying inside™️

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  9. Of course 15,000 workers will have to pay for Intel’s management approving shipping out faulty chips for a couple years now.

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  10. Sounds like they need to find a next-gen console to produce chips for.

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  11. We really need to deeply penalize leadership when they do mass layoffs like this.

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  12. This feels like a bush league question but how do you know if your desktop processors are impacted? I went down a wormhole earlier and had no luck. I'd like to be able to identify the potential in advance.

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    1. Impacted by the issue with voltage? If the processor is 13th or 14th gen, it's impacted. Impacted by the manufacturing issue? Harder to tell.

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  13. jesus was 10k earlier today!

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  14. by giving huge number of pink slips, the ceo will get huge bonus.

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  15. Suggestion: don’t spare anyone in the design QA department.

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    1. Please. It's management. I'd bet dollars to donuts QA, design, and engineering were screaming their faces off, but management said "nah, ship it so we can make this quarter's numbers."

      Fuckin MBA's will be the end of this world.

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    2. Ah yes, the old "We'll keep firing people until productivity improves" approach!

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    3. Seems more like a Process Reliability problem.

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  16. I thought it was 20K

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  17. It was 10 000 this morning 🫠

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  18. AMD chips are about to get more expensive.

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  19. Been saying for a while, intel is a dead company.

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  20. Are there any stonk bros here? If so, could this possibly do something with them working with BCG? They're known to infiltrate company board and executive roles in the guise of "turning a company around" while working with HFs/MMs of WallStreet to pretty much destroy them from within.

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  21. So these 15,000 people are the ones who made the decisions that led to this fiasco, right? Totally not the executives. Right?

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    1. Do you even capitalism bro?!?

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  22. Intel more like dumba

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  23. RIP the guy that invested 700k into Intel

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  24. The fire from 13-14 gen CPUs jump onto employees

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  25. All because they care more about their stock price than fighting back and actually developing better products.

    This is the type of decision making that kills successful companies.

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  26. Which begs the question: what the fuck were they all doing?

    Or, of course, what very large thing is Intel stopping doing?

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  27. Doesn’t sound good for the Rio Rancho Plant. Intel just dropped a couple of billion on upgrades.

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  28. Can we talk about what the F is happening!?

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  29. I could swear it said 10k yesterday and now it’s an additional 5?

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  30. Does it have anything to do with 14th gen processors dying?

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  31. 1/4 market cap wiped on in a single day. Totally normal for a mega cap. This is fine.

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  32. so ... does Lisa Su and Jensen Huang have more cousins they can hire as CEO XD

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  34. Their Fabrication business has gotten so far behind TSMC and Samsung and both those companies are more aggressive in their spending for new facilities. Fabless companies like AMD, Apple and Nvidia have grown market share drastically by leveraging their services.

    Intel has used monopolistic business tactics to hold market share with the OEMs for a long time now. As the tech fell behind and market share began to reduce, those OEM investments began acting as a noose around their profitability. Now they are going to have to pull back those investments which will further speed up the decline in market share.

    It will be interesting to see where they go from here. It might make sense to separate off or sell off the fabrication business but there are national security concerns in doing so and the government would almost certainly step in. Right now that segment pretty much needs a war in Taiwan in order to be relevant anytime in the near future, otherwise it could take a decade of massive investment in order to catch up.

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  35. That is a terrible statistic. There needs to be some level of public accountability? I feel bad for the retrenched workers. I can see RISCV making this debacle a whole lot worse for Intel.

    Same problem at Boeing, IMHO. Management is led by beancounters instead of engineering staff. :(

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  36. Ah yes, the classic "we're making record profits year-over-year for the past two decades, time to fire a bunch of people because it's funny" corporate switcheroo. Unless it isn't, of course, I have no idea and I'm just assuming based on simple probability.

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  37. because the guy in charge that cant do the job of a hobby lobby assistant manager and cant take the pay cut for authorizing his stupidity onto silicon?

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  38. -20% in pre-market, RIP this guy: https://www.reddit.com/r/wallstreetbets/s/ckMZz6oYvJ

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    1. OUCH. Grandma did all for nothing

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    2. First thing that came to mind 😂 you can't help idiots sometimes...

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    3. ‘Doesn’t want to do anything risky with the money’

      Then goes straight to the stock market

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    4. Yeah, if he chose 10-20 stocks it would be understandable, but with that amount of money they you don't need just put it in a good ETF and forget about it...

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  39. Management fails = workers get fired, CEO gets a raise 🤡

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    1. That's how the economy works. It's harsh, but it's the reality

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    2. I would normally agree, however seems like engineering is also involved in the bug that affected the Raptor Lake processors, which I suspect is the main reason for these mass layoffs.

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    3. A bug in one product out of thousands is not the reason for 15k people lay off …

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    4. This bug affects (in CPU-catastrophic ways) all CPUs of 2 generations, so it is not a "bug in one product". It was a bug that affected ALL Raptor Lake products, so practically the majority of their consumer products. This bug also comes after them having lost their monopoly on the market and continually losing technological advantage over AMD and even Apple (I will not even add Nvidia, they could not compete with them in AI to begin with). All these are purely engineering and RnD issues, not management, and IMO these are the main reasons for the layoffs, hence my comment that management is not the only culprit and engineering has lots of blame for the demise of Intel.

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    5. got it.

      engineering fails, engineers get fired

      management fails, engineers get fired

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    6. And who decides how big the rnd budget is? How much salary the company can pay talent?

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    7. Unless you are somehow implying Intel engineers are stupid (which would lead to asking how we're they hired in the first place), then it seems to me that Intel failed to use those engineers to build correctly. When you are a company of some renown, it's hard to sell the line that engineers had technical shortcomings and you got fucked over.

      Less so for a small startup. Those will routinely sink because they failed to hire competent engineers.

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  40. Shouldn't come as a surprise. Intel has been failing for the last 5 years. Every single reviewer was praising laptop vendors for choosing AMD. Then there's Apple and Microsoft going for ARM. The writing was on the wall.

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    1. Plus they didn't pay enough attention to NVidia and as a result have lost a huge market of GPUs.

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    2. Plus even last year they released desktop CPUs that can fry themselves due to overvoltage.

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    3. Yet still is used by 67% of steam gamers.

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    4. How often do you think people buy new CPUs? That percentage will begin to rapidly diminish unless Intel sorts their shit out.

      I just built a new machine, the choice was AMD easily.

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    5. They’ve been saying this for decades.

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    6. And the share price is where it was in 2003. 2 decades ago.

      AMD on the other hand...

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    7. AMD has been scooping up the server market. Has nothing on Intel in gaming.

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    8. AMD has nothing on Intel in gaming? I think you might be a bit out of the loop.

      Like I said, I just built a new machine and did extensive research. The X3D AMD chips are better than what Intel offer. Not to mention the degradation issues Intel is having.

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    9. Dude, giving up the server market in favor of the gaming market is a really stupid move. I don't think Intel intended to do that.

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    10. No shit Sherlock.

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    11. they deserve to fail. they are a monopolistic company

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    12. Will make those 15k poor bastards feel better.

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  41. It has nothing to do with the broad market. Intel has bad products that don't sell. Gets low earnings and needs to reduce costs now.

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    1. Well, yes and no. These 15K people are going to compete on the labor market, making things even worse than it is now.

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  42. I understand that this is bad news for a lot of people, but this is just one mismanaged company and does not reflect the broad market.

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    1. But 15k people being added to the market is kinda crazy no?

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    2. Presumably it's 15k worldwide?

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  43. Their products pricing was always overrated so I hope the layoffs will target their marketing and business departments

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  44. Intel has been steadily getting behind both on the manufacturing and the design of chips and still makes money only thanks to the x86 architecture. But they seemed determined to get back on track, it's been quite some time they provide fab services to third parties like TSCM does, and there seems to be political interest in having at least one western company producing next gen chips. I don't know how this decision can make sense in the light of that. Did they just drop it? For what I know chip manufacturing is one of the most capital intensive activities ever, if they want to compete with TSCM they need to pump money into r&d, otherwise it makes no sense to even try.

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  45. Even if only 1k of these are chip designers, that is still a lot of talent for the market to absorb.

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  46. Well this might be due to the recent backlash about their new gen cpu performance issues. Add that to AMD being overall better in the recent years

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  47. The unemployment offices in Oregon refer to Intel as a "continuous returning customer" given how many layoffs they've done over the last...5 years or so. I wouldn't read too much into this one.

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  48. So the layoff trend continues, so dystopian

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  49. Not surprising, considering the major bug that affects most Raptor Lake chips that was revealed some days ago:
    https://www.extremetech.com/computing/intel-cpu-crashing-bug-affects-many-more-chips-than-we-thought

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    1. You really think they discover an issue and less than a week later they lay off 15k people? There’s no way they can do a mass layoff that quickly. These events are entirely unrelated to each other.

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  50. do not worry, you got dismissal protection in europe. you can basically go to your manager tomorrow and tell him to fuck off

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    1. First, "Europe" isn't a country.

      Second, you can fire people pretty much anywhere. Difference is how much it's going to cost in terms of severance payments etc.

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    2. you should definite look it up here https://en.wikipedia.org/wiki/Joke

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    3. Intel laid off everyone in a short notice back in 2016 in France.

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    4. Stop with this protection tales. You can fire anyone anywhere

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  51. Didn’t Intel accept a big grant from tax payers under the guise of bringing chip making jobs to the US?

    I think Qualcomm was expecting this, they set up a presence in Folsom just earlier this year. During the last round of layoffs a lot folks made the jump, I’m guessing the valuable employees will likely be able to do the same this round.

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    1. 8.5bil specifically. Probably will end up being used for more stock buybacks.

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    2. If I recall correctly the government never actually funded the grant.

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    3. AMD has also poached a lot of the good Intel folks. I'm sure they'll get some more.

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  52. This sucks for a lot of people who rent apartments across the street.

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    1. Maybe your joke totally missed me but i think most of them are those people.. might suck more for the apartment owner lol.. no more 3500 for a 2/1

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    2. What?! 3500 a month rent? No way! For reals?

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    3. Its been a while since i looked but i was fortunate enough to buy a home in that area a long time ago and when me and my wife happened to look at what they were charging there one day i remember both of us being fucking floored by what the rents were.. its insane

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    4. I'm seeing 2.xk rents, in line with other Folsom apartments and starter homes.

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  53. Are people in Folsom impacted?

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    1. I know some Intel folks. Word is they don't know specifics yet but it's definitely hitting Folsom.

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    2. According to the all hands meeting they will start finding out on Monday, Aug 5. Intel is encouraging voluntary and early retirement, then involuntary. All lay offs to be done by Nov 15th.

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    3. Cool. A whole quarter or so of people being too tense with worry to be productive. That sounds like a great time.

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    4. With great leadership like that, makes you wonder how they got into this situation. /s

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    5. I would certainly expect that to be the case. Group targets aren't widely known yet, but I can't imagine the Folsom campus will be spared from layoffs.

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    6. want to know as well

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  54. It shouldn’t even be a surprise at this point. Intel lays off people every single quarter. Most likely Intel will be down to one or two buildings in folsom

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  55. Half the campuses are already at a skeleton crew.

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  56. Does it mean that people with normal jobs (read making under $100k/year) would be able to afford homes in Folsom? On a side note, why does it feel like Intel hires out-of-state/out-of-country people on H1B visas but not our local Sac State or UC Davis graduates? It seems like unless you know someone or are referred, it is impossible to get a job there.

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    1. Why hire a citizen when you can hire someone who will be dependent on you for their right to stay in America?

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    2. Folsom will never be affordable again. Sacramento is now the Bay Area 2.0. The days of working class people being able to live here has passed.

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    3. Demand is high, everyone I meet that owns a home here loves it and usually are dual high income households. Couple that with the fact that a lot of folks doubled down with a low rate refi, and are educated in a high demand field I highly doubt Folsom would be impacted to the extent it becomes affordable at your income level.

      I am biased though!

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    4. That’s like everywhere in Tech. I graduated from UC Davis and always get tossed out the door over H1Bs ( I do consulting in IT security). Tech industry is profiting off the cheap labor and H1Bs employees because they are easier to control. They won’t push back like Americans for any corporate harassments due to their status. H1Bs buying 1 million dollar homes and pushing away hard working American families into disarray.

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    5. No. This won't help anyone.

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  57. Sooo… Should I buy the dip in the stock market or start saving up in high yield for a Folsom house upgrade sooner than later

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  58. Home prices in Folsom are going to come down to earth...

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  59. I guarantee a giant pile of job reqs will be opening in India and other international facility locations.

    It’s not a downsizing, it’s a restructuring. They will be moving tons of jobs out of this country.

    This also means we don’t need the H1B program anymore. Plenty of US tech workers are available. There’s no more special “talent” argument anymore when they are only willing to hire at lower wages.

    If we can set the minimum wage for H1-B worker at $300k I think we’ll find out very quickly who is actually very specialized and gifted, and who can just be sent back to another country to work for reduced wages.

    The US dollar is very very strong right now. It definitely makes sense to pay engineering workers overseas in their weaker currencies.

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    1. H1b is not only for tech workers though. There’s a huge need in other engineering disciplines such as civil engineering. Even with the h1b program, companies are currently struggling to fill the open positions

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    2. If these imported workers are truly more exceptional than US workers, they can certainly pay the $300k minimum wage for them.

      If they’re not, I guarantee there are US workers available to fill those positions AT MARKET RATES. These companies just want to abuse H1-B to create a serfdom of a bound labor pool paid well under standard market rates while dangling permanent resident status.

      As I said, the US dollar is very strong right now.

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  60. A.I and it’s just the start

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    1. Piss poor management and "must increase shareholders value at all costs" is really what is happening.

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    2. This is nonsense. Do you use any of the tools commonly referenced as "AI"?

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  61. With AI they made their own replacements.

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  62. The SMB Market is thriving, though!

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  63. Communism is the new capitalism

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