4 ms·

Chipmaker Intel to cut 15,000 jobs as tries to revive its business

12 points by taubek 2y ago

nick238 2y ago
Intel had 124,800 employees as of December 2023 according to filings [1] So 12% of all employees. This would basically drop them back to pre-COVID levels, which they may have overhired for (like many tech companies). Still rough. [1]: https://stockanalysis.com/stocks/intc/employees/ https://stockanalysis.com/stocks/intc/employees/
- zipityzi 2y ago
  The article is estimating 15,000; however, Intel confirmed a "more than 15% headcount reduction". As of June 29, 2024, according to their Q2 2024 release: Intel: 116,500 employees Mobileye & other subsidiaries: 5,300 NAND: 3,500* Intel total: 125,300 * NAND employees will automatically move to SK Hynix after the divesture is complete. Source: https://www.intc.com/news-events/press-releases/detail/1704/intel-reports-second-quarter-2024-financial-results https://www.intc.com/news-events/press-releases/detail/1704/... 15% * 116,500 = 17,475 employees (low estimate) 15% * 125,300 = 18,795 employees (high estimate) Thus, it will be more than 15,000 employees for sure. :( // Written another way: at least 1 in 7 Intel employees will be let go. I don't know how a CPU & foundry can fire 15% in two quarters without significant negative repercussions. It's a very sad day for Intel employees.
pushfoo 2y ago
TL;DR: How much of this is a potential class-action[1] and how much of this is failure to deliver on AI? Am I missing something? On one hand, I think I get it: Intel hasn't been a GPU company historically. On the other, this quotes seems suspicious given Intel's gen 13 and 14 cores have issues: > Simply put, we must align our cost structure with our new operating model and fundamentally change the way we operate At the same time, my understanding is AMD seems ahead[2] of Intel in AI / CUDA support. This quote seems to be a nod to that without saying much else: > Our revenues have not grown as expected — and we’ve yet to fully benefit from powerful trends, like AI. Our costs are too high, our margins are too low. Before anyone point oout "Intel® Extension for Pytorch*" exists[3]: 1. That seems to be the official name (what?) 2. Their installation homepage seems a little convoluted[4] [1]: https://www.pcmag.com/news/intel-faces-potential-class-action-lawsuit-over-chip-bug-controversy https://www.pcmag.com/news/intel-faces-potential-class-actio... [2]: https://github.com/vosen/ZLUDA https://github.com/vosen/ZLUDA [3]: https://intel.github.io/intel-extension-for-pytorch/xpu/latest/index.html https://intel.github.io/intel-extension-for-pytorch/xpu/late... [4]: https://intel.github.io/intel-extension-for-pytorch/xpu/latest/tutorials/installation.html https://intel.github.io/intel-extension-for-pytorch/xpu/late...
gnabgib 2y ago
Discussions (116 points, 1 day ago, 111 comments) https://news.ycombinator.com/item?id=41133084 https://news.ycombinator.com/item?id=41133084 (79 points, 1 day ago, 18 comments) https://news.ycombinator.com/item?id=41133133 https://news.ycombinator.com/item?id=41133133

12 points by taubek 2y ago

Intel had 124,800 employees as of December 2023 according to filings [1] So 12% of all employees. This would basically drop them back to pre-COVID levels, which they may have overhired for (like many tech companies). Still rough. [1]: https://stockanalysis.com/stocks/intc/employees/ https://stockanalysis.com/stocks/intc/employees/

zipityzi 2y ago
The article is estimating 15,000; however, Intel confirmed a "more than 15% headcount reduction". As of June 29, 2024, according to their Q2 2024 release: Intel: 116,500 employees Mobileye & other subsidiaries: 5,300 NAND: 3,500* Intel total: 125,300 * NAND employees will automatically move to SK Hynix after the divesture is complete. Source: https://www.intc.com/news-events/press-releases/detail/1704/intel-reports-second-quarter-2024-financial-results https://www.intc.com/news-events/press-releases/detail/1704/... 15% * 116,500 = 17,475 employees (low estimate) 15% * 125,300 = 18,795 employees (high estimate) Thus, it will be more than 15,000 employees for sure. :( // Written another way: at least 1 in 7 Intel employees will be let go. I don't know how a CPU & foundry can fire 15% in two quarters without significant negative repercussions. It's a very sad day for Intel employees.

pushfoo 2y ago

TL;DR: How much of this is a potential class-action[1] and how much of this is failure to deliver on AI? Am I missing something? On one hand, I think I get it: Intel hasn't been a GPU company historically. On the other, this quotes seems suspicious given Intel's gen 13 and 14 cores have issues: > Simply put, we must align our cost structure with our new operating model and fundamentally change the way we operate At the same time, my understanding is AMD seems ahead[2] of Intel in AI / CUDA support. This quote seems to be a nod to that without saying much else: > Our revenues have not grown as expected — and we’ve yet to fully benefit from powerful trends, like AI. Our costs are too high, our margins are too low. Before anyone point oout "Intel® Extension for Pytorch*" exists[3]: 1. That seems to be the official name (what?) 2. Their installation homepage seems a little convoluted[4] [1]: https://www.pcmag.com/news/intel-faces-potential-class-action-lawsuit-over-chip-bug-controversy https://www.pcmag.com/news/intel-faces-potential-class-actio... [2]: https://github.com/vosen/ZLUDA https://github.com/vosen/ZLUDA [3]: https://intel.github.io/intel-extension-for-pytorch/xpu/latest/index.html https://intel.github.io/intel-extension-for-pytorch/xpu/late... [4]: https://intel.github.io/intel-extension-for-pytorch/xpu/latest/tutorials/installation.html https://intel.github.io/intel-extension-for-pytorch/xpu/late...

gnabgib 2y ago

Discussions (116 points, 1 day ago, 111 comments) https://news.ycombinator.com/item?id=41133084 https://news.ycombinator.com/item?id=41133084 (79 points, 1 day ago, 18 comments) https://news.ycombinator.com/item?id=41133133 https://news.ycombinator.com/item?id=41133133