semiconscious
Member
you get fat & lazy. how's china managed to do what it's done? how did japan before it?...
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Intel is laying off over 15,000 employees and will stop all ‘non-essential work’
- Thread starter adamsapple
- Start date
winjer
Gold Member
Intel Q2 2024 Earnings: A Horrendous Result With A Miss On Total Revenue, DCAI, Gross Margin, And EPS
Intel has now announced its earnings for the second quarter of 2024, posting broadly negative results relative to the consensus expectations. Intel (NASDAQ: INTC) Earnings Release for the Second Quarter of 2024 For the three months that ended on the 30th of June, 2024, Intel reported $12.833...
wccftech.com
BWJinxing
Member
They fucked up the intel modems in the 10th gen iPhone. They would underperform in comparison to the broadcom modems, slower to connect, etc. Apple brought the chip rights off them.
They fucked up CPUs in the PUMA 6 / PUMA 7 cable modems, that results in packets being dropped under any load. Pushed a firmware update that would just migrate the issue. never made a true hardware fix. These modems are still out here fucking up your gaming and VPN connections.
They fucked up the Atom CPUs in some routers that would just crash, required a hardware replacement as it was a hardware fault.
They fucked up 13th / 14th gen CPUs, with the on-going developing issue.
They fucked up the fab rollout plan, over many years. DELAY. DELAY. Intel announced all those processes that were supposed to happen. Currently they best intel can do is like 10nm - 7 nm dies. TSMC is down to 3nm, developing 2nm process.
The CEO sure did give himself a fat raise the the year if i recall.
Intel has been on the decline for like the last decade, its not been a recent problem. If it wasn't for the shady deals, they would realistically have experienced this sooner. Deals such as paying OEMs to only supply intel, Datacenters got discounts on chips for shunning AMD.
They fucked up CPUs in the PUMA 6 / PUMA 7 cable modems, that results in packets being dropped under any load. Pushed a firmware update that would just migrate the issue. never made a true hardware fix. These modems are still out here fucking up your gaming and VPN connections.
They fucked up the Atom CPUs in some routers that would just crash, required a hardware replacement as it was a hardware fault.
They fucked up 13th / 14th gen CPUs, with the on-going developing issue.
They fucked up the fab rollout plan, over many years. DELAY. DELAY. Intel announced all those processes that were supposed to happen. Currently they best intel can do is like 10nm - 7 nm dies. TSMC is down to 3nm, developing 2nm process.
The CEO sure did give himself a fat raise the the year if i recall.
Intel has been on the decline for like the last decade, its not been a recent problem. If it wasn't for the shady deals, they would realistically have experienced this sooner. Deals such as paying OEMs to only supply intel, Datacenters got discounts on chips for shunning AMD.
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GHG
Gold Member
And to make matters worse he's as charismatic as a wet blanket.
cinnamonandgravy
Member
haha that's brutal
Down 5.5% during the day and then another -17% after hours when they announced this. Totally nuts.
sold all my intel stock last week for unrelated reasons. got lucky.
lmimmfn
Member
It will continue, the AI gold rush is on and Intel need products in that market and thus have to invest in gpu R&D.
I don't understand the shock, it was well known that Intel were in trouble last year and I would expect more layoffs in Q4 or Q1 next year.
All these companies are laying off staff because the cheap loans are gone with the interest rate hikes. It's good in the long run.
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StereoVsn
Member
They are making huge cuts to R&D and manufacturing. I don’t see how that wouldn’t negatively affect GPU development.
GHG
Gold Member
Which is ironic because their financial position has only accelerated in it's deterioration since he was put in that position, and in doing so that's put them in an almost impossible position as far as r&d is concerned.
Made out like a bandit. There was a beautiful pop last week due to trumps Taiwan comments, but that turned out to be nothing more than exit liquidity for the big boys.
justiceiro
Marlboro: Other M
I don't get, didn't Intel received a big paycheck from the us gov to build a foundry on us soil? What happens now?
Icymanipulator
Member
Not good
Hmmm
Hmmm
StereoVsn
Member
That’s not instantaneous, but rather depends on new foundry construction which takes years.
Puscifer
Member
I'm absolutely sure this is 100% the cause and had nothing to do with 6+ years of mediocre products.
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StreetsofBeige
Gold Member
I dont know how accurate my numbers are as I just took what was in Yahoo Finance's Financial tab. But doing some math, here's what I got for SG&A. I like playing with stats and spreadsheets. lol. As Ive said here and there on Gaf, companies like to keep SG&A ratios in line. Once it gets wacky (high), it's firing time.
Their R&D ratio is through the roof too. Maybe it has to do with whatever plants they have being built (non-functioning).
But what is killing them is revenue has dropped $20 billion since those covid years, while SGA and R&D are kind of the same.
Their R&D ratio is through the roof too. Maybe it has to do with whatever plants they have being built (non-functioning).
But what is killing them is revenue has dropped $20 billion since those covid years, while SGA and R&D are kind of the same.
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adamsapple
Or is it just one of Phil's balls in my throat?
ChuckeRearmed
Member
Even with the current staff is butchered already. I don't think anything will change much.
Hope competent people will start working there again.
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GHG
Gold Member
That would actually be an improvement, and I'm not even joking.
Our taxpayer dollars will do wonders for their margins in 2025 onwards.
StereoVsn
Member
They have competent people. They have incompetent management who can’t direct and focus resources.
Rentahamster
Rodent Whores
Love him or hate him, this is why Jensen is a pretty smart guy relative to other CEOs who appear to be somewhat useless and transparently interchangeable.
butane bob
Member
AMD didn't surpass them. Intel chips are still faster.
Intel fucked up though and released dodgy chips that crash if you dare to try to use them, and they now have to pay the price for that. Literally.
ChuckeRearmed
Member
I am pretty sure management cannot test microcode....Considering what I see at the corporate - the brightest minds are not there anymore. Those who could left for better pastures long time - usually to science.
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StereoVsn
Member
Management can make unrealistic goals and not assign enough resources though.
Intel’s issues here are not related to 13th/14th gen problems, which are quite serious.
Intel got hammered in all directions because of lack of focus and lack of ability to deliver, especially on the AI hardware end.
Rentahamster
Rodent Whores
We wait until they start building it, then wait for them to finish building it, then wait to see if they actually make anything useful.
HeisenbergFX4
Gold Member
Unknown?
Member
When we mourn the loss of jobs, we really mourn. We are mourning jobs, we can really mourn. Jobs are jobs and we have lost them.
ChuckeRearmed
Member
With AI they just missed the boat. Just like AWS. But that's a separate matter. Intel has like 6 times more employees than Nvidia and their output is not comparable.
I just don't buy into the argument that management somehow is responsible for bad architecture decisions, coding etc. to a point that the device is broken. Usually it boils down to people not giving a shit, not caring and stuff. Intel is kinda like Boeing at this point - it is a lucrative place to work but nobody likes their job there and don't give a shit. I saw that at the bank when I was working there - high salary, no skills and crap results with or without management involvement. I eventually left to have more fun at a different company.
Management is a scapegoat all the time because - for some reason - people believe that developers want to have their product to work the best and perform the best. From what I have seen - that's not the case.
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Melon Husk
Member
Government bailout in 3... 2...
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sloppyjoe_gamer
Gold Member
Good, glad were in agreement
Codeblew
Member
Faster at what specifically?
Mortisfacio
Member
Large number, but doesn't look like a significant % of workforce compared to other tech companies lately. I turned down an offer for them in Arizona a few years back. Would hate to have made that move then get laid off.
CoreyFlawless
Member
Damn. There goes intel. Sounds like, they gonna have to survive the next 5 years and then be able to try and come back after that
Buggy Loop
Member
Jesus christ, they had 125k employees??
Just for reference, AMD has ~26k
Just for reference, AMD has ~26k
BacklashWave534
Member
But i was told that the economy is great.
Burning out the ring bus by flying too close to the sun.
ShaiKhulud1989
Gold Member
It seems like fresh Boeing planes will be equipped with Intel CPUs. Because both companies sure as hell have the same trajectory of failure.
StreetsofBeige
Gold Member
Actually it might had been a good move. Pending your state's employment laws, hiring and gutting an employee in record time is in bad faith and you'd likely get a half decent pay out.
Wastelander92
Member
If you're having to fire that many people, you need to resign yourself.
Tiago Rodrigues
Member
Holy shit…15k people?!
StereoVsn
Member
AMD doesn’t run Fabs.
Edit: Neither does Nvidia. Doing actual physical manufacturing is hard and labor intensive.
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