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Intel to lay off 15,000 people (link)
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Date: August 1st, 2024 6:51 PM Author: Awkward becky church Intel INTC -5.50%decrease; red down pointing triangle plans to lay off thousands of employees this year and pause dividend payments as part of a broad cost-saving drive more than three years into Chief Executive Pat Gelsinger’s turnaround effort.
Gelsinger laid out the plan to reduce costs by more than $10 billion next year as the chip maker reported second-quarter sales of $12.8 billion, down 1% and below analysts’ forecasts in a FactSet survey. Reaching that cost-reduction goal will require cutting jobs and lowering capital expenditures, among other moves, the company said.
The company’s stock fell 20% in after-hours trading.
Intel has struggled to gain a foothold in the market for artificial-intelligence chips that have driven the sales and valuations of Nvidia and some other rival chip makers. The heavy spending on those AI-focused chips to build out big data centers also has cut into demand for the non-AI processors for data centers that have long been central to Intel’s business.
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Subscribe “Clearly market conditions, some were good and some not so good, and you have to adjust the financial envelope appropriately,” Gelsinger said in an interview. “The AI surge was much more acute than I expected, and you have to adjust to those things.”
Intel will lay off about 15,000 people, most of them by the end of this year, Gelsinger said in the interview. The company reported about 116,500 employees in its core business at the end of June.
Intel reported a loss of $1.6 billion for the second quarter, compared with a $1.5 billion profit a year earlier. It said it expected sales of roughly $13 billion in the third quarter, below analyst forecasts.
The pause in the company’s dividend follows a 66% reduction of the payouts last February. |
Date: August 1st, 2024 6:56 PM Author: Crawly Frozen Juggernaut Think of all the unsent emails (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47918963) |
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Date: August 1st, 2024 7:03 PM Author: Awkward becky church yes, companies are eliminating what were essentially government jobs programs. seems like there's a glut of basically unskilled people who have no hope of being competitive in the globalized marketplace, not sure what the plan is from here on out. era of free money is over for at least another decade. how will we give these people some manufactured purpose? there's only room for so many uber and doordash drivers (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47918983) |
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Date: August 1st, 2024 7:31 PM Author: crimson stirring rigor The Law will Provide (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47919059) |
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Date: August 2nd, 2024 1:24 PM Author: Sable private investor (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47921438) |
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Date: August 1st, 2024 7:36 PM Author: Black hateful locus corn cake The surge of immigrants ensures that even gig jobs will be unavailable to Americans (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47919066) |
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Date: August 1st, 2024 8:43 PM Author: bull headed fortuitous meteor Aren’t you a lib with a Fake Job? Who isn’t competitive? Most of the layoffs are probably Engineers (your betters). (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47919239) |
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Date: August 1st, 2024 8:45 PM Author: twisted domesticated sanctuary scourge upon the earth stfu rat face (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47919244) |
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Date: August 2nd, 2024 12:13 PM Author: Vibrant senate (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47921076) |
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Date: August 2nd, 2024 2:05 PM Author: Contagious mildly autistic abode crypto (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47921648) |
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Date: August 1st, 2024 6:56 PM Author: bisexual stain piazza Who could have seen this coming!!! (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47918965) |
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Date: August 1st, 2024 6:59 PM Author: primrose charismatic institution Absolutely no one is buying their core processors anymore (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47918975) |
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Date: August 1st, 2024 8:46 PM Author: twisted domesticated sanctuary scourge upon the earth why not? (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47919246) |
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Date: August 1st, 2024 8:49 PM Author: sepia embarrassed to the bone macaca stead They’re far behind state of the art at this point, and they’re really struggling to become competitive again. (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47919266) |
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Date: August 2nd, 2024 1:14 PM Author: Contagious mildly autistic abode There is significantly less need for the x86 instruction set in general these days. Demand isn't going to vanish but it's going to flatline and not grow. AMD can still grow profits by stealing market share, but only at Intel's expense. (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47921379) |
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Date: August 1st, 2024 7:01 PM Author: jet jap pocket flask TSMC can’t even get its Arizona workers up to their standards because Americans are stupid and lazy and won’t do the hard business of going to the fab in the middle of the night when something goes wrong. Intel has the same problems but also DEI nonsense and no hard Taiwanese bosses to try to keep everyone in line. They don’t have what it to takes to manufacture at leading nodes anymore. (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47918979) |
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Date: August 1st, 2024 7:04 PM Author: Awkward becky church seems like the era of american tech companies leading the way is over. future job prospects in tech are terrible right now (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47918986) |
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Date: August 1st, 2024 8:09 PM Author: sepia embarrassed to the bone macaca stead (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47919151) |
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Date: August 2nd, 2024 12:14 PM Author: Big-titted Plaza Karate Amazing article abt that
https://restofworld.org/2024/tsmc-arizona-expansion/
One former American engineer said some local co-workers referred to him as a “white breeding pig,” implying he was only in Taiwan to sleep with local women. At a meeting, a manager said Americans were less desirable than Taiwanese and Indian workers, according to people who saw leaked notes, which circulated among trainees.
A detailed photograph of a colorful semiconductor wafer. A semiconductor wafer displayed at the TSMC museum in Taiwan in 2022. I-Hwa Cheng/Bloomberg/Getty Images “They really are trying to push this narrative that Americans are slower because of lower technical ability, but I really don’t believe that’s the truth,” an American engineer who recently left TSMC told Rest of World. “The Taiwanese create this false sense of urgency with every single task, and they really push ‘you need to finish everything immediately.’ But it’s just not realistic for people that want to have some normal work-life balance.”
Several former American employees said they were not against working longer hours, but only if the tasks were meaningful. “I’d ask my manager ‘What’s your top priority,’ he’d always say ‘Everything is a priority,’” said another ex-TSMC engineer. “So, so, so, many times I would work overtime getting stuff done only to find out it wasn’t needed.” |
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Date: August 2nd, 2024 12:16 PM Author: Vibrant senate "One former American engineer said some local co-workers referred to him as a “white breeding pig,” implying he was only in Taiwan to sleep with local women."
Well, not ONLY. |
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Date: August 2nd, 2024 1:02 PM Author: jet jap pocket flask Americans just don’t get it. You can’t manufacture semiconductors at 2 fucking nanometers by having a chill, relaxed work culture. You need to be an obsessive workaholic who worries about every minor thing that might go wrong. (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47921337) |
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Date: August 2nd, 2024 1:07 PM Author: Contagious mildly autistic abode Availability bias all up in this bitch (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47921356) |
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Date: August 2nd, 2024 5:55 PM Author: sepia embarrassed to the bone macaca stead (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47922522) |
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Date: August 2nd, 2024 1:08 PM Author: puce hell round eye Yeah this tracks with my own experience working for Azn bosses. Difficult time. (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47921360) |
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Date: August 1st, 2024 7:02 PM Author: transparent half-breed library Their 13th and 14th gen processors are bricking themselves and Intel is refusing refunds. lmao at Intelcucks. (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47918980) |
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Date: August 1st, 2024 7:06 PM Author: Awkward becky church just bought the new surfacebook 7 with i believe an intel processor. praying to allah everyday to save me (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47918992) |
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Date: August 1st, 2024 7:22 PM Author: At-the-ready pit You were advised to go AMD brother (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47919028) |
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Date: August 1st, 2024 7:25 PM Author: Awkward becky church i'm retarded, and gay too (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47919036) |
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Date: August 1st, 2024 7:33 PM Author: Hot Insecure Forum That’s a Snapdragon Elite CPU from Qualcomm, not Intel at all. (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47919062) |
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Date: August 1st, 2024 9:00 PM Author: Awkward becky church My man. Thank you my Nerd brotha (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47919304) |
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Date: August 1st, 2024 7:35 PM Author: puce hell round eye For Personal Computing we are way past the point where any of this matters. You don't need the latest chip for poasting and watching Israeli rage videos. (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47919064) |
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Date: August 1st, 2024 8:11 PM Author: bull headed fortuitous meteor IMO everything is so inefficient now and file sizes and RAM requirements are so high for everything that it does matter. I use a $300 laptop and it Freezes randomly.
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Date: August 2nd, 2024 1:18 PM Author: Contagious mildly autistic abode The new Intel chips are just plain defective. People are reporting all kinds of glitches and Intel doesn't have an answer. (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47921399) |
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Date: August 1st, 2024 7:08 PM Author: Contagious mildly autistic abode I got an AMD chip with 3D v-cache and it's cool. I don't think the utility of that technology has been close to fully explored. Set the voltage curves down to 30 on all cores the first day, never had a single glitch, hang or BSOD. (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47918999) |
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Date: August 1st, 2024 7:24 PM Author: very tactful adventurous menage tbf their chips suck (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47919032) |
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Date: August 1st, 2024 7:30 PM Author: Contagious mildly autistic abode Are they still putting Atom cores in their high end chips? (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47919055) |
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Date: August 1st, 2024 7:38 PM Author: Territorial Zippy Hospital kicking myself for not getting puts, too late to snake da chain? (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47919069) |
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Date: August 1st, 2024 8:56 PM Author: lime cracking windowlicker temple What will happen to amd and nvda once there is a trade embargo on china? (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47919286) |
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Date: August 1st, 2024 9:24 PM Author: Know-it-all hall circlehead This is INTC’s only hope (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47919360) |
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Date: August 1st, 2024 11:01 PM Author: lime cracking windowlicker temple Is intel failing because it is in fact an American company like Ford or Chevy. While aapl, nvda, amd , tsla are actually chinese workforce.. (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47919628) |
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Date: August 2nd, 2024 2:05 AM Author: Know-it-all hall circlehead They are retooling and pouring literally all their money into becoming a chip manufacturer and fabrictor for others. In addition to the 15k layoffs i think they suspended their dividend, too. One of the only onshore companies that will do this if it pans out, but it is going to cost a ton and even by their own projections i think wont turn profitable until at least 2027. However anything happens to taiwan and i think it goes stratospheric. The govt also won’t let them go belly up for nat sec reasons as essentially the only domestic chip maker. (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47919949) |
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Date: August 2nd, 2024 7:07 AM Author: crimson stirring rigor No u doofus that doesn't even make sense
Intel is failing because AMD kicked their shit in in the short/medium term, and in the long term x86 is dying and Intel has no escape. The world is moving on the ARM whether they like it or not, and Intel's R&D got complacent |
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Date: August 2nd, 2024 7:17 AM Author: bull headed fortuitous meteor How can R&D get complacent? They are Engineers and always want to Engineer things. It’s not like they’re golfing. (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47920093) |
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Date: August 2nd, 2024 7:39 AM Author: crimson stirring rigor Engineers will sometimes get stuck in Loops and need a Jock to force them to focus. Like how back when we used to send guys to MIT a fraction of them just ended up playing with toy trains the rest of their lives. (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47920139) |
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Date: August 2nd, 2024 7:53 AM Author: bull headed fortuitous meteor (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47920158) |
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Date: August 2nd, 2024 12:23 PM Author: Contagious mildly autistic abode They got saved by the "Pentium Pro" design from the 90s, which was almost a throwaway project. If they just keep adding more of those cores to their chips they would probably be fine. But instead their newer CPUs have additional cores based on the Atom architecture, which has always been dogshit. Atom designers should have been rounded up and executed 20 years ago, and Intel should have had a team working on a suitable alternative. (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47921125) |
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Date: August 2nd, 2024 12:12 PM Author: Contagious mildly autistic abode I don't think AMD has better R&D talent. Their engineers are simply able to exploit TSMC's EUV technology and Intel can't keep up. The EPYC/X3D series CPUs run chill enough that they can stack a big L3 cache on top of them. They call it "3D" v-cache because it literally sits on top of the CPU like a like yarmulke. Real world applications for this are kooky and being downplayed IMO. I think programmers haven't fully explored it, which limits AMD's ability to market it. (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47921068) |
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Date: August 2nd, 2024 7:42 AM Author: Demanding liquid oxygen (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47920144) |
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Date: August 2nd, 2024 12:28 PM Author: Jet-lagged flushed school cafeteria Intel went all in on diversity. Shocking that didn’t work out well in a highly competitive industry with constant technical pressures to refine and invent better semiconductor products. (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47921150) |
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Date: August 2nd, 2024 12:30 PM Author: Big-titted Plaza Karate ljl at birdshits just blaming everything on DEI. DEI is bullshit but u fags are too stupid to see how all of amerikkkan society has decayed in everyway and then input that to US companies doing worse now. its cause birdshits are furking utter trash and pajeet and chung can only do so much to keep the comps afloat. in defense semi govt agencies like Boeing they dont even hire enough pajeets and chungs in exec positions, its all BIRDSHITS and of course it will therefore fail (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47921158) |
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Date: August 2nd, 2024 12:36 PM Author: Vibrant senate Then why is this whole world owned by birdshits? Why do pajeet and chung flee to America, but bobby birdshit doesn't flee to India or China? (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47921183) |
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Date: August 2nd, 2024 12:43 PM Author: At-the-ready pit India and china are highly selective, they have their pick of the very cream of an already high g pool. Bobby birdshit couldn't make it in either country if he tried (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47921227) |
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Date: August 2nd, 2024 12:58 PM Author: Big-titted Plaza Karate the cold hard nigga truth is there are veddy few non-jew birdshits who can perform at high levels other than obesity, meth or raping hideous filipinas (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47921316) |
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Date: August 2nd, 2024 1:01 PM Author: Contagious mildly autistic abode The ones who can do it are gods though. My uncle got started at Motorola in the 70s, probably can't understand anything that doesn't have colored wires coming out of it, but he still gets called up to fix shit in Asia and they take him on tours of the Great Wall and shit. The last project he worked on involved garage door openers made by a US company run by an old billionaire, so not everything they make goes into an iPhone. (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47921335) |
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Date: August 2nd, 2024 1:42 PM Author: Razzle-dazzle Metal Step-uncle's House Legend nigga please. I'm a birdshit through and through and I hate kikes. However, I perform at an extremely high level and make more in tech than I ever made in law. It's absolutely 180. (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47921533) |
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Date: August 2nd, 2024 12:58 PM Author: Big-titted Plaza Karate rofl there are bobert birdshits all over asia u retard, and by far china is the most powerful economic country its not even close, the US doesnt even compete with china on 90% of things now
birdshits never owned anything anyway, their jew masters did |
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Date: August 2nd, 2024 12:58 PM Author: Contagious mildly autistic abode ljl for starters the US restricts the number of H1B visas Intel can issue.
But also, it's not just Taiwan and India who are producing talent. The one chip designer I know personally is from Norway. Intel has recruiting offices in over 30 countries because these people sometimes come out of places like Brazil. You can't predict it. |
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Date: August 2nd, 2024 12:40 PM Author: Contagious mildly autistic abode The actual talent pool of engineers who can design these chips is extremely shallow and spread all over the globe. The idea that there are white Americans who can do this but Intel won't hire them is laughable. (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47921211) |
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Date: August 2nd, 2024 12:59 PM Author: Big-titted Plaza Karate devastating for bobert birdshit trying to design his first chip out of the dildo he just inserted in a pattaya trannies ass (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47921320) |
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Date: August 2nd, 2024 1:18 PM Author: Jet-lagged flushed school cafeteria You would think so but then they assign DEI shrew project managers to run everything via an insane beuacratic process that slows everything down. (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47921404) |
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Date: August 2nd, 2024 12:42 PM Author: At-the-ready pit (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47921220) |
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Date: August 2nd, 2024 1:16 PM Author: Heady dysfunction https://www.intel.com/content/www/us/en/newsroom/news/us-chips-act-intel-direct-funding.html
Intel and Biden Admin Announce up to $8.5 Billion in Direct Funding Under the CHIPS Act |
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Date: August 2nd, 2024 1:19 PM Author: naked hideous digit ratio EVERYBODY DANCE NOW!!!! (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47921407) |
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Date: August 2nd, 2024 1:34 PM Author: Contagious mildly autistic abode So that's like 10% of the total expected cost? (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47921506) |
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Date: August 2nd, 2024 2:04 PM Author: Heady dysfunction billions for our corporate masters (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47921641) |
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Date: August 2nd, 2024 2:44 PM Author: jet jap pocket flask We probably should have found a way to get TSMC to build more fabs in Japan or SK instead of trying to turn America into a chip leader. (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47921806) |
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Date: August 2nd, 2024 2:42 PM Author: Arousing Ladyboy They used to be a client until they decided to slash budgets by 30% because “times are tough man. Do us a solid!” (http://www.autoadmit.com/thread.php?thread_id=5568385&forum_id=2#47921801) |