There have been multiple accounts created with the sole purpose of posting advertisement posts or replies containing unsolicited advertising.

Accounts which solely post advertisements, or persistently post them may be terminated.

Magnetic_dud ,

they fired the guy that single handedly managed meshcommander github.com/Ylianst/MeshCommander

it was a tool to remotely control intel vpro machines, intel’s own tool is not as good as what the old ex-employee did in his free time

suction ,

That’s not surprising if you know how software products nowadays are planned and built in bigger companies.

It’s harder to do it with 50 people than with 5.

AnUnusualRelic ,
@AnUnusualRelic@lemmy.world avatar

So they’re only keeping marketing?

Bakkoda ,

I just sat through a “town hall” at a former GSK now Haleon site and a site director assured people that volume was coming back through nothing but the power of marketing alone. Apparently 8 dollar tubes of toothpaste are non sellers in a tight market. Who knew.

arc ,

How long before Nvdia buys them, or at least tries to. Nvidia tried to buy Arm but got stopped by the UK government.

roguetrick , (edited )

Nvidia wants IP. They do not want to buy foundries. It’s too volatile and dependent on government subsidies while also being well outside their core competencies. If their products don’t sell as a fabless company, they don’t see growth and lose on the manufacturing cost and stop placing orders. If their products don’t sell and their chip fabs run idle, they lose a shitton of money on not just the above but also the cost of maintaining the fabs. Not only is there no guarantee that Nvidia would be able to run the foundries better, it’s actually quite likely they’d run them worse.

Wootz ,

Arm is worth 5.3bn USD and employs just over 8000 people. Intel is worth just over 100bn USD and employs 124,000 people.

Nvidia is worth 42bn USD and employs 30,000 people.

That makes Intel over twice as valuable as Nvidia with over four times as many employees.

arc ,

Nvidia is worth 42bn USD and employs 30,000 people.

Nvidia’s has a market cap 30x of Intel’s. So it could issue more stock to raise capital for a buyout. It’s not the company equity but the market cap that it needs to have money to purchase. Even a controlling stake of > 50% would give them defacto control. Of course governments & regulators would probably block it or force Nvidia to divest bits of itself, and that’s probably the greatest protection Intel has against such a scenario.

But if Intel weakens further, it may well be someone else tries to acquire it. I bet a lot of companies would love to snaffle it up. It’s kind of ironic that Intel used to be the big dog in the semiconductor space but even AMD is bigger than it these days and are potentially many others who’d like buy it out. In fact, for all we know Intel might be shedding all these jobs to make it look more attractive to potential buyers.

jacksilver ,

The thing is that AMD and Nvidia are chip designers not chip makers. While Intel does design and print chips, the reason Intel is so critical (from US perception) is they own the foundries to make chips.

AMD decided years ago to go fabless, as for Nvidia I’m not sure they want to own the fabrication process.

jj4211 ,

Don’t understand your “worth” numbers, that’s generally market cap and those numbers don’t line up. The employee counts line up…

100B is… close enough for Intel (though they have fallen to 95B). So $730,769 per employee

ARM is $140B… So $20,000,000 an employee…

nVidia is worth 2.7T… $90,000,000 an employee…

Linkerbaan ,
@Linkerbaan@lemmy.world avatar

Lets hope they ditch the israel division

Johanno ,

Why that specifically?

Linkerbaan ,
@Linkerbaan@lemmy.world avatar

Because Intel takes American subsidies, so it would be best to keep the money circulating in America by providing jobs to Americans. Not subsidize some Apartheid in the Middle East.

Snowpix ,
@Snowpix@lemmy.ca avatar

Linkerbaan isn’t capable of any discussion that doesn’t involve Israel, and must involve it in any thread he participates in no matter how irrelevant. This is just what he does.

Linkerbaan ,
@Linkerbaan@lemmy.world avatar

I wonder how irrelevant Intel is to israel

Intel Israel is the largest private employer in the Israeli hi-tech

Also nice false framing and straight up lying about my activity on Lemmy.

Maggoty ,

Boycott Divest Sanction

It’s not necessarily the thread to bring it up but linkerbaan is on a mission.

rottingleaf ,

Let’s hope they ditch.

EnderMB ,

Several tech companies have really stopped giving a shit lately. Intuit laid off a ton of people and referred to them as “not meeting expectations”, and Intel’s laid-off folks are now all apparently working on non-essential stuff.

Imagine losing your job and being told second-hand after you’d been shown the door that you were shit.

Fuck these companies.

rottingleaf ,

Stagnation, baby.

jj4211 ,

I do a moderate amount of work with Intel, and I’d say the problem is not that the people are “shit”, it’s that their bureaucracy is so messed up. You have the people that actually engaged with their customers (support and sales), who marketing largely ignores, and marketing makes up stuff that isn’t in sync with the field guys, but that’s hardly a problem because the development executives then go off on their own “cool” ideas, without any buy in or anything from support, sales, or marketing. This has real impact, but then you have some middle managers spooling up side projects with like a dozen dedicated people each, adding another indirection of effort totally disconnected from any business capability.

So end result is you have an admittedly qualified team toiling away on a project that there’s just no way a potential customer will even hear about, working on problems that someone “imagined” that a customer never had, or is trivially solved in the industry already, but they don’t have the experience to know that. Even when the work is good and people might want it, it’s still doomed to obscurity because there’s such a disconnect between the engineers and any actual communication with potential customers.

namingthingsiseasy ,

Yes, I agree, and I think it’s a reflection of society’s values over the past 50 years.

We are living in a world with more of a “make money and fuck all else” mindset. Children of wealthy elites are living very privileged childhoods, and as a result, have less empathy and more contempt for real people. We are now seeing the effects of living in a society where the needle of social values is pointed 100% on the side of capitalism and 0% on the side of moral values. And how that has affected our perspectives of a society at large: a general lack of caring, a lack of empathy, a lack of conscientiousness from the top, tossing normal, real people aside like rubbish in a bin.

We’re seeing what happens when you let a generation of incredibly entitled children grow up to take the reins of society. We all know how it ends…

(And for what it’s worth, I think a long, extended Great Depression-style event is much more likely than a violent conflict, especially given how docile citizens of the west have proven themselves to be over the past several decades.)

mannycalavera ,
@mannycalavera@feddit.uk avatar

In January 2022, Intel announced an initial $20 billion investment that will generate 3,000 jobs,

Not sure why Biden didn’t put any terms and conditions on giving away all this money 💰?

GBU_28 ,

These corps are slimy Fucks. It probably did create 3k jobs. Low paying, temporary jobs. These layoffs are probably other jobs

arc ,

The US and Europe has become acutely aware that too much semi-conductor manufacturing has been outsourced to China and other Asian nations and they’re trying to build some back domestically. So that’s the geopolitical reason for it.

rottingleaf ,

That’s the justification. Don’t you know what kind of people gets into high governmental positions?

Making some friends rich was the reason.

Still, this sucks huge donkey balls, a lot of very smart and very knowledgeable people, maybe more valuable than a 100 (ok, maybe 10, or maybe 5, it’s a rhetorical device) copies of me, work in such inefficient structures, while there could have been a dozen TSMCs over the world with their competencies.

I have come to agree that nations have interests, but their governmental structures generally work against those. There’s a wheel to be invented there.

uis ,

I’m not sure what this has to do “Not sure why Biden didn’t put any terms and conditions on giving away all this money 💰?”. Wait, I do. This is question exactly why Biden didn’t put condition of bringing production back.

  • Russian troll, according to some.
todd_bonzalez ,
@todd_bonzalez@lemm.ee avatar

Maybe the US should consider Intel’s massive reduction in staff and faulty chips as a national security threat and nationalize them.

Burn_The_Right ,

The U.S. should sue the shit out of them.

uis ,

It seems you are confusing US for EU

ChickenLadyLovesLife ,

$20 billion investment that will generate 3,000 jobs

Lol that’s $6,666,667 per job. I could create a job with that much money: counting all my fucking money.

rottingleaf ,

Actually, yeah, one can pick 3k people and just pay them 4k$ per month indefinitely till they die and something will remain.

Dark_Arc ,
@Dark_Arc@social.packetloss.gg avatar

The string is that they use it for the creation of a domestic chip plant, not salaries for existing employees.

Cossty ,

While i dont like intel, I hope they wont sack GPU division.

bitwaba ,

They won’t. That’s their springboard into that multi trillion dollar AI market everyone keeps talking about

Wispy2891 ,

unless some MBA decides that it’s better to sell single purpose expensive ai boards without video output

MehBlah ,

Two generations of bad cpu’s and their solution is get rid of the workers so they can keep their bonuses.

another ,

Gotta keep that angle at 45° forever and ever.

Zetta ,

MBA brain rot

wabafee ,
@wabafee@lemmy.world avatar

Two words, bean counters.

cryptix ,

I wish them brain drain for being such greedy. Let their best people leave to better pastures.

jj4211 ,

Part of the lackluster CPU problem is that Intel was pissing away their money on other adventures. CPUs were “in the bag”, so they kept spending money on other stuff to try to “create new markets”. Any casual observer knew their fundamental problem was simple: they got screwed on fabrication tech. Then they got screwed again as a lot of heavy lifting went to the ‘GPU’ half of the world and they were the only ones with zero high performance GPU product/credibility. But they instead went very different directions with their investments…

For example they did a lot to try to make Optane DIMMs happen, up to and including funding a bunch of evangelism to tell people they’ll need to rewrite their software to use entirely new methods of accessing data to make Optane DIMMs actually do any better than NAND+RAM. They had a problem where if it were treated like a disk, it was a little faster, but not really, and if it were used like RAM it was WAY slower, so they had this vision of a whole new third set of data access APIs… The instant they realized they needed the entire software industry to fundamentally change data access from how they’ve been doing it for decades for a product to work should have been the signal to kill it off, but they persisted.

See also adventures in weird PCIe interconnects no one asked for (notably they liked to show a single NVME drive being moved between servers, which costed way more than just giving each server another NVME and moving data over a traditional fabric). Embedding FPGA into CPUs when they didn’t have the thermal budget to do so and no advantages over a discrete FPGA. Just a whole bunch of random ass hardware and software projects with no connection to business results, regardless of how good or bad they were. Intel is bad for “build it, and they will come”.

BallsandBayonets ,

stop ‘non-essential’ work

So those jobs they’re cutting start with everyone with “Chief” in their title, right?

harrys_balzac ,

Of course not. The Chiefs earn every penny by making the difficult decisions to keep stock prices up. /s

MataVatnik ,
@MataVatnik@lemmy.world avatar

FIFTEEN THOUSAND HOLY SHIT

PanArab , (edited )

So the semiconductor jobs and manufacturing aren’t coming back to the US?

Who else saw this coming? Because I did.

I remember telling people that and they wouldn’t believe it. Time has a way of making the unknown known.

fluxion ,

Read article

PanArab , (edited )

I read it and predicted this outcome in 2022. If Intel wanted to open factories and employ people in the US it would have done so without the CHIPS Act.

No company will say no to free taxpayers’ money, so they didn’t. But they spent it on stock buybacks and now they’re laying off thousands of workers and are selling a defective product.

Now here’s an article for you to read that may be unpalatable globalsouth.co/…/michael-hudson-why-the-u-s-econo…

fluxion ,

Fair criticisms, but the statement from CEO is that the layoffs are to offset fab investments, so there isn’t any clear reason to conclude that Intel’s US chip manufacturing is dead based on this. We won’t be able to infer anything of that sort until we see what areas they actually cut.

PanArab ,

Future promises vs present actions. Only time will tell.

scytale ,

There’s a dude in wallstreetbets who dumped a $700k inheritance into Intel stocks. lol

twei ,

Oh my god…

reddit.com/…/i_bought_700k_worth_of_intel_stock_t…

slaacaa ,

Holy F, what an idiot nepo baby. Maybe daddy who pays for college works as a VP at intel

kameecoding ,

Meh, he bought a significant dip, even if it goes lower in the coming months, in a few years he will be way up. It’s not like Intel will go away, they are in a duopoly market.

Intel has been down from around 50 YTD to 30 likely in a few years it will be back to 50 and he will close to double his money

Though he could have probably just put the 700K into S&P 500 and have his retirement taken care of, since he is in his 20s

twei ,

Yeah but still… could’ve at least waited a day

tmcgh ,

Dude, what the heck is wrong with people. Wealth is wasted on the stupid.

Thorny_Insight ,

What’s the problem? They put the money back into circulation. That’s a good thing, no?

Burn_The_Right ,

The wealthy hoard their gold. They don’t circulate it.

tmcgh ,

The problem is that it is just poor money management. He could’ve been set for life. Put that into an index or S&P500 and get 10% every year. That’s 70k and he wouldn’t even have to work. If you took that 70k and invested back into the fund, you can double your money in about 7 years, assuming 10% returns.

Thorny_Insight ,

Yeah I agree. That’s what I would’ve done. You saying that wealth is wasted just made it sound like the money dissapeared somehow. He wasted his chance on financial independence, sure, but that’s not away from the rest of us.

Angry_Autist ,

its mainly that our modern culture worships money and things whoever has more of it is inherently better.

So rich people make bad decisions because they think that being rich means they are always right, and that their ideas are special and magical and come from a mystical realm of refined thought only people with stacks of cash possess.

And when they fail, they blame everything except their greed focused short sightedness.

corsicanguppy ,

Layoffs will make the stock go up. It’s bizarre.

ChickenLadyLovesLife ,

My experiences working for huge corporations have made it clear what an enormous percentage of corporate workers spend all their time on useless busy work, so in theory layoffs can make a corporation more profitable. The problem is that it’s rarely the useless ass-kissers who get laid off.

tempest ,

If the bureaucracy could easily identify the dead weight projects it wouldn’t need the layoffs but that also means it can’t make good choices when doing layoffs.

It’s like chemotherapy.

jj4211 , (edited )

Yeah, my team has gotten cut and the end result is one management type person per person actually doing anything… They are “managing” teams of one each, effectively…

EDIT: To make it clear, I’m not an Intel guy, just commenting on an ‘Intel-like’ company behavior with respect to being stupid about layoffs.

pufferfisherpowder ,

I just started a corporate job a while ago and they still can’t really tell me what I’ll be doing. My onboarding plan suggests that in month 2-3 I’ll be ready to get into it. Like, dude, wtf?

ChickenLadyLovesLife ,

Just focus on the most important thing: going out drinking with the right superiors.

pufferfisherpowder ,

Ha, yes! I’m also enjoying the second most important thing: the fat paycheck

ChickenLadyLovesLife ,

I had a friend in the '90s who took a $40K inheritance and “invested” it all on $75 Fossil watches, the kind with Popeye and other cartoon characters on them. At least she was able to show them off at parties and get all the guests to go home.

KyuubiNoKitsune ,

Layoffs usually cause the stock prices to increase because it shows the company is being “lean” and “cutting the fat”.

jj4211 ,

Yeah, Intel is down 33% over the last two days… didn’t work this time…

Some layoffs can be seen as “improving efficiency”. This deep of cut is “oh shit, things are screwed”.

jacksilver ,

It has me oddly hopeful. It sounds like they may have finally realized that they can’t ignore their core product/purpose. However, whether it’s too late or if they have the ability to actually execute is still to be seen.

jj4211 ,

Frankly, no idea. They talked the talk, but it’s vague enough that I wouldn’t be surprised if they cut out some important people and kept a lot of the bogus crap.

Speaking from a company that has seen (less dramatic) rhetoric around similar circumstances, and everyone on the ground who understood nuance would have guessed certain projects to get canned. Then it turns out they treated the money losing projects as the sacred cows and cut the profitable projects to the bone and put them at risk rather than give up the losers.

KyuubiNoKitsune ,

Capitalist machines of this size blinded by profits seem to be unable to see what’s actually happening or make logical decisions.

todd_bonzalez ,
@todd_bonzalez@lemm.ee avatar

He’s gonna make a ton of money then, because investors love layoffs.

Ullallulloo ,
@Ullallulloo@civilloquy.com avatar

The stock is down 30% so far, so I think you may not understand investors very well haha

todd_bonzalez ,
@todd_bonzalez@lemm.ee avatar

Give it time. Next Monday or Tuesday is probably the day to buy.

ApollosArrow , (edited )

What’s crazy to me is that they are laying off more employees than the total number of full time employees I’ve worked at for most companies.

They are laying off 12% of their work force.

kameecoding ,

That’s what happens when companies are too fucking big, and intel was essentially a monopoly for a while.

I have interned at AT&T while at University, laying off a 1000 people would be less than 1 % for them.

ApollosArrow ,

After seeing this article I went down a rabbit hole and IBM isn’t even in the top 10 US of most employees. Here’s some of the popular ones from the top 30.

  • Walmart - 2.3 Million
  • Amazon - 1.61 Million
  • DHL - 594,000
  • FedEx - 547,000
  • UPS - 536,000
  • Home Depot - 456,000
  • Target - 415,000
  • Kroger - 414,000
  • Marriott - 411,000
  • Starbucks - 381,000
  • Walgreens - 333,000
  • Pepsi - 318,000
  • Costco - 316,000
  • Chase - 309,000
  • Lowes - 300,000
  • IBM - 282,000
  • CVS - 219,000
  • Bank of America - 212,000

…wikipedia.org/…/List_of_largest_United_States–ba…

myrrh ,

…i’m surprised to see DHL rank so highly in that list: what’s their domestic market focus, business-to-business freight logistics?..i seldom see DHL packages and when i do they’re almost exclusively of international origin…

ApollosArrow ,

That was also my thought as well. I only use DHL with some international orders, so I questioned their placement on that list.

Angry_Autist ,

… the 12 percent that actually does something too…

BigMacHole ,

It’s a good thing we gave them BILLIONS of Taxpayer Dollars! Otherwise they would have Laid Off Employees! Anyways we don’t have enough money in the Budget to Feed Starving American Children!

Modern_medicine_isnt ,

I wonder how many of the over 1000 VPs will get canned. You read that right. I worked there at the beginning of my career. I know a lot of people who are now VPs. Only one of them was actually any good. One guy couldn’t even manage his own staff meetings when he was a first line manager. Nice guy, not dumb or anything, but not brilliant, and a terrible organizer.

Murdoc ,

Ah yes, the ol’ “promoted to the level of their incompetence”. SOP. Or SNAFU, take your pick.

4z01235 ,

en.wikipedia.org/wiki/Peter_principle

lightnegative ,

I hope this never happens to me but based on the Peter Principle I won’t know when it happens.

Oh shit maybe it’s already happened…

ChickenLadyLovesLife ,

over 1000 VPs

I used to work for Comcast and it was astonishing how many vice presidents there were. It might be the most meaningless corporate title ever. Even if they had real work to do they never had time to do it - VPs there turned over faster than beignets at Cafe du Monde.

  • All
  • Subscribed
  • Moderated
  • Favorites
  • •
  • [email protected]
  • random
  • lifeLocal
  • goranko
  • All magazines
    •