News Intel To Make Further Workforce Cuts in U.S. :Report

[Admin]

Intel layoffs hundreds of GPU, cloud, and software R&D architects and engineers in Folsom and San Jose.

Intel To Make Further Workforce Cuts in U.S. :Report : Read more

 

[dehjomz]

Cutting staff while simultaneously having to pay an over $300 million dollar breakup fee to Tower.

 

[Deleted member 431422]

Cutting staff while simultaneously having to pay an over $300 million dollar breakup fee to Tower.

And getting billions of dollars from the Chips act. If ChatGPT could develop processors I bet Intel and other companies would cut their engineer staff significantly.

 

[-Fran-]

When big Corps start cutting their R&D staff, unless it's literally incubation labs or some sort, it always paints a terrible picture to me: they're looking to mainstream and work on minimal "new" things and stick to whatever patented things they have. This usually smells like transition (see IBM).

That being said, this amount of people out of... What is it? 100K employees? It's not really significant enough to make any conclusions like that, but it still is sad to read about good talent being let go.

Regards.

 

[watzupken]

Remember, the US economy is "resilient"? Hiring is still going strong? Everyday I am seeing news of companies letting people go. Kind of contradictory.

 

[JamesJones44]

And getting billions of dollars from the Chips act. If ChatGPT could develop processors I bet Intel and other companies would cut their engineer staff significantly.

Those two things are not related. The Chips Act money has to be used for the construction of their Ohio Fab as per the requirements in the Chips Act. The money can't be used for general R&D, operations, stock buybacks, break up fees, etc. (assuming the gov follows through with verifying the funds uses).

 

[bit_user]

Remember, the US economy is "resilient"? Hiring is still going strong? Everyday I am seeing news of companies letting people go. Kind of contradictory.

Talk of the job market being "resilient" is based on overall statistics on the unemployment rate (which we know is underreported) and the number of unfilled positions (which I'm sure is overreported). It does not mean that hiring is equally strong in all sectors, or say anything about their layoff or turnover rates.

 

[bit_user]

Wishing the best to all affected. I hope this isn't simply an off-shoring exercise, but that's exactly the type of thing these corporations do.

One thing to consider is that having to provide health insurance for employees is a cost they don't have to bear almost anywhere else in the world. That further amplifies the cost disparities between US-based employees and those in other countries.

 

[magbarn]

Intel still can't mass produce in quantity anything smaller than 10nm and they're cutting staff?