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This[1] seems to be the Bloomberg article it's referencing. It doesn't say it will lay off 20% of staff like this article is referencing, just "thousands" and:
by cableshaft 4y ago
This[1] seems to be the Bloomberg article it's referencing. It doesn't say it will lay off 20% of staff like this article is referencing, just "thousands" and:
"Some divisions, including Intel’s sales and marketing group, could see cuts affecting about 20% of staff, according to the people."
Some divisions, not the entire company.
Also this is in the article:
"Intel’s last big wave of layoffs occurred in 2016, when it trimmed about 12,000 jobs, or 11% of its total."
So if the headline were accurate, this would be twice as many people as six years ago. While it's possible that will be the case, I'm guessing it's more likely the number will be closer to the 2016 number.
I think this article misinterpreted the source article, either by accident or deliberately for a juicier headline, and should be replaced by the Bloomberg article instead.
[1]: https://www.bloomberg.com/news/articles/2022-10-11/intel-is-planning-thousands-of-job-cuts-in-face-of-pc-slowdown https://www.bloomberg.com/news/articles/2022-10-11/intel-is-...
- xdavidliu 4y agoBloomberg: some divisions could see cuts affecting about 20% of staff, according to people. Quicktechnics.com: Purple monkey dishwasher
- ehsankia 4y agodang, can we swap this for the bloomberg article instead?
- dredmorbius 4y agoEmail requests to the HN mod team at hn@ycombinator.com They don't monitor comment references. (I've done so for this submission.)
- dang 4y agoDefinitely, but I'd rather reward the first user to submit it (https://news.ycombinator.com/item?id=33170608 https://news.ycombinator.com/item?id=33170608), so we'll merge this thread into that one and re-up it.
- TimSchumann 4y agoI just spent 15 minutes digging for a primary source on this 20,000 jobs number and couldn't find one. I suspect the source is as you called it, shoddy journalism.
- baq 4y ago20% of 100k employees gets you roughly there
- dredmorbius 4y agoThe 20% refers to a subset of divisions, not the entire company. The 20k extrapolation is unfounded.
- iepathos 4y agoSomething to weigh in is their stock is lower now than it was in 2016 by about 15% so it wouldn't be all that surprising if their layoff number was significantly higher than the 2016 number.