INTC - Massive Layoffs Coming Soon?

Intel Corp. is planning a major reduction in headcount, likely numbering in the thousands, to cut costs and cope with a sputtering personal-computer market, according to people with knowledge of the situation.

The layoffs will be announced as early as this month, with the company planning to make the move around the same time as its third-quarter earnings report on Oct. 27, said the people, who asked not to be identified because the deliberations are private. The chipmaker had 113,700 employees as of July.

I’ve read that it looks like most of the cuts will be in the Sales & Marketing areas and not in the production / R&D areas. They are saying that the layoffs are in response to a slowing PC market. Hmmmm…

I also read recently (can’t find the link now) that the CEO of Intel said that he does not expect Intel to be able to compete for at least the next two years due to major investments in new plants and equipment that will allow them to design and fabricate their own 2nm(?) chips.

I guess when the boss says you can’t compete, and there are a bunch of sales and marketing folks hanging around waiting for the new products that will come along… some time… and then the main driver for your business (PC sales) starts tanking, then I guess it makes sense to dump the deadwood and invest in your R&D and plant and equipment instead of PowerPoints.

Anyone remember someone (who shall not be named) here banging the table on INTC stock back when they first arrived on these boards? Not sure when that was exactly, but the chart sure doesn’t look good from there. Maybe looking better as a buy now, but I think I’ll wait to see how low it can go into 2023.

52 week high = $56 → today $25 → $12 anyone?



The layoffs are coming. Its going to be brutal. Likely 12,000 people. And no, INTC is NOT a buy yet. They are a turn-around story, and they have not yet started turning.


I was. Last December on these boards I directly said to Wendy now is not the time to be long Intel. It was very publicly said. Where were you? Ignoring what anyone else says again? Stop pounding your fist and learn something. You must have a hard time making any friends.

I have said for three months now that tech will be cutting dividends. Intel will be leading in the dividend cuts. If it goes down that way.

1 Like

A friend of mine who was working with Dell in CT shifted to another company doing his usual presales. He discussed Dell’s lay offs. They have been going on since January. This is no surprise tech is laying off. This has been going on at all the other major tech companies.

Not unexpected, considering the news from AMD.

1 Like

Good! Does this mean I will be able to get a good I 9 processor, 64 gig of ram, and a decent video card loaded with ram and four m.2 2 terabyte cards?

You gotta have a rig if you gonna fly x-plane with 3 wind screen monitors and a instrument dash monitor all in 4 k of course.