15K! Intel Layoff

[mengfei]

...that's almost all the staff in our factory right now, sad state of the economy + the bugging problems they have with the latest CPU's

https://us.cnn.com/2024/08/01/busine...ips/index.html

https://www.theverge.com/2024/8/1/24...llion-in-costs

[hullexile]

...that's almost all the staff in our factory right now, sad state of the economy + the bugging problems they have with the latest CPU's

https://us.cnn.com/2024/08/01/busine...ips/index.html

https://www.theverge.com/2024/8/1/24...llion-in-costs

Are you losing your job?

[mengfei]

Are you losing your job?

seems to be going that way too, I have been transferred to other BU's trice already & there where several cut's in the past 3 years & most of our production is now moving to VN. Factories built there are more bigger & modern.

the thing is almost 99% of the chinese staff don't want to move there & they say it's hard to find technical people in VN.

[hullexile]

seems to be going that way too, I have been transferred to other BU's trice already & there where several cut's in the past 3 years & most of our production is now moving to VN. Factories built there are more bigger & modern.

the thing is almost 99% of the chinese staff don't want to move there & they say it's hard to find technical people in VN.

Best of luck then and all works out for the best

[RobRoy]

Tough times all around now, I don't think it will get better short term. When US markets finally cracks the whole world will take another leg down. Then we need Mr Xi opening the wallet and stepping in like 2008.

[freeier]

Tough times all around now, I don't think it will get better short term. When US markets finally cracks the whole world will take another leg down. Then we need Mr Xi opening the wallet and stepping in like 2008.

but that is going to lead to another huge property bubble in china and hk.. if Xi is there he likely won't do it.. see how to endure the pain..

[RobRoy]

but that is going to lead to another huge property bubble in china and hk.. if Xi is there he likely won't do it.. see how to endure the pain..

Yeah the last part was a joke, no way they can stimulate like 2008, or I mean if they do it, they doom China for the next 30 years.

The none joke version is when US economy and stock market falls, there won't be any market left to hold us up..

[shri]

Intel has taken a severe hit after hours after their q2 results today. Data center revenue is down quite significantly.. and a bunch of other crap which the CEO has been unable to bring together.

There are plenty of US companies making their numbers .. this one is a special beast.

CNBC closing bell overtime and fast money podcasts have a fair bit of analyst air time dedicated to this in this mornings episodes.

https://open.spotify.com/episode/10M...Qw6MSgGxfyp5Tg


https://open.spotify.com/episode/3N2...SBWIfW_IRR10UA

[Elefant&Castle]

Great old company, but been a turn around case for a while - reminds me of HP the way they underinvested in R&D to make short term numbers look good.

[shri]

https://open.spotify.com/episode/36H...SM6rh31_J5iDNg