#headcountreduction

To: All Employees
From: Leadership Communications
Subject: Reinvention Update

Dear Team,
As part of our ongoing Reinvention journey, we want to take a moment to recap the tremendous progress we’ve achieved, which on closer inspection looks suspiciously like chaos:

• Q2 Results: While our financial performance was pure garbage, we see this as a powerful opportunity to demonstrate resilience and accelerate the pace of transformation, because turning failure into a buzzword is cheaper than fixing the business.

• Leadership Evolution: John B has transitioned from his role as COO to continue serving on our Board, which sounds like a noble continuation but in practice means his head was required on a silver platter. He will chair the new Integration Committee, which is a committee no one asked for but looks reassuring in press releases.

• Leadership Innovation: Our Chief Disruption Officer, Deena P, has announced she is leaving to spend more time with her family, which is the universally accepted code for “thank you for the selfies, now please go". We are grateful for the inspiration and hashtags she brought to Reinvention, because nothing drives shareholder value like social media content.

Looking forward, we are excited to announce the next step: a global headcount optimization initiative. Executives have been tasked with submitting names by end of Q3, at which point 3,600–4,800 colleagues will be invited to explore career opportunities outside the company.

As a global enterprise, we are committed to fairness, but also math: it is dramatically cheaper and faster to fire people in the U.S. than in other countries where local laws demand notice periods, unions, and dignity. Accordingly, our American colleagues should expect to play a leading role in this Reinvention milestone, because your jobs are legally the easiest to erase.

We understand there is hope that reductions will focus on less-productive management layers. While that hope is touching, history has shown us that those compiling the lists — along with their friends, spouses, siblings, and Saturday tennis partners — somehow never appear on them.

Thank you for your ongoing commitment to Reinvention. With fewer people, less stability, and more recycled jargon, we are confident that together we can continue to deliver bold PowerPoint slides that tell a story our numbers cannot.

Warm regards,

Your Leadership Team

I'm telling you, in a month from now there will be less. Headcount IRIF. Book it.

It appears that over 17,000 layoffs have already occurred, and the process is still ongoing.

Can someone post an updated slack count.

I’ve heard factories are being asked to cut >$50M yearly while still ramping, that’s an extreme target. In the semiconductor space, savings of that magnitude usually come from headcount reductions, vendor contract restructuring, consolidation of manufacturing operations, etc.
Trying to hit that scale of savings during a ramp is especially problematic because ramping fabs need additional headcount, training, materials, and spare parts. That makes it contradictory: the fabs are being asked to grow output and shrink cost simultaneously.

Mohammad Yunus’s reputation (reducing headcount in Assembly/Test in Asia) suggests a playbook of workforce reduction as the primary lever. Bringing that mindset to U.S. fabs is dangerous and reckless from a senior leader driving knowledge drain. I’m surprised employees are not organizing to join Unions.

TI may have set itself up by over-promising Wall Street and under-investing in scalable cost infrastructure. The resulting “savings at any cost” mentality risks not only operations, but also employee trust and legal exposure.

Exxon Mobil Corp XOM recently reported in its 10-K filing that its global workforce decreased by 1,000 to 62,000 personnel in 2022. This was due to cost-cutting measures intended to increase shareholder returns. It was Exxon's third consecutive year of staff reduction, down from 75,000.

The company also forewarned of potential risks for its operations in Kazakhstan, a nation in central Asia that borders Russia by a distance of 7,644 kilometers (4,750 miles). ExxonMobil’s combined oil and gas output in Kazakhstan was 246,000 barrels last year, which were exported via the Caspian Pipeline Consortium (CPC). According to the filing, Exxon may face an undeterminable loss in cash flow from its businesses in Kazakhstan if Russia interferes with the pipeline's functioning.

The U.S. oil giant, ExxonMobil, holds a 25% stake in the Tengizchevroil (TCO) oil production joint venture that manages the Tengiz and Korolev oil fields in Kazakhstan. The company also holds a 16.8% working interest in the Kashagan field. Per the filing, ExxonMobil's assets in Kazakhstan generated after-tax earnings of $2.5 billion in 2022.

I read in the Q2 financial report that the quarter end employment number was 16,600. Does that include Lexmark personnel? If yes, that means prior Xerox people remaining must be around 12,000 or so world wide?

Alvind reminds me of Jack Welch. Acquire companies and pay way too much , then reduce headcount due to overpaying .

GE Went from making appliances to becoming a bloated financial services company then becoming a shell of its former self

Alvind is doing these acquisitions and the balance sheet is artificially pumped up

Investors don’t care about acquisitions, they want reduced headcount due count and they have their puppet Krabanaugh to do that so that S0B can get a bloated 100 million perk package

From what I am hearing, most of folks on ISP list will be DLs.

Given the objective of cascade 2 is to reduce leadership layers, it makes sense. GPs/Directors will save their skin and throw DLs under the bus.

Skills, capabilities and performance will not matter. If you are a DL and don’t have a GP/Director protecting you, your name will end up on the ISP list.

Given all the layoffs that are sweeping through the company and still to come, are any of the jobs listed on oracle.com actually open? Can anyone inside comment as to whether they've seen any hiring happening or is it frozen for 60 days?

Does anyone know if there will be more TAM Layoffs coming now that everyone's been given a new title?

I’m hearing rumors that business lines/functions will have 20% targets for an October RIF. Is anyone else hearing the same? Does anyone know of any specifics?

This sounds a bit too much, but then again…

6k is 1/3. That’s the number. That gets the staffing to about 12k which is roughly half of what it was pre covid. That’s a huge reduction. With increasing output and content the goal is double the revenue of pre covid with half the staff. That’s how you turn a profit.
OP: @fh+1k2wpserx

A SI and Ops Spec. roles had a last-minute meeting this week stating that we're looking at reduction of roles due to NK's lifecycle.

Anyone else catch any more details on this?

It is because a big headcount cut will happen and will be announced around November 12, minimum 10k employees will be impacted.

I keep hearing that 1000-1200 associates are going to receive the ISP. This would be a substantially higher number than what have been discussed related to Reimagined. Is anyone else hearing similar rumblings?

https://wccftech.com/intel-xeon-6-6980p-hits-a-record-low-price-of-6190-half-the-official-msrp/

This could be half the official headcount

I recently chatted with a friend who specializes in restructurings, and she shared some thoughts on reimagined.

The duration and scale of this consulting project indicate that the target for headcount reduction is more than 15%.

ISPs are probably going to lose access to their laptops within a week. The 60-day period to reapply for other positions is likely nonsense. Once ISPs are informed, they won’t want them snapping photos of sensitive client data and sharing it on the dark web.

They probably had an idea of who they were letting go back in January. Typically, leaders assess their employees based on current skills and their potential for retraining.

Despite all the dishonesty and deceit, my friend believes PP is doing well. Her aim is to boost GP profits, and cutting over 1000 jobs will definitely enhance GP returns.

Happy Hunger Games!

Based on what people are sharing, these layoffs seem massive and widespread. Why are we being kept in the dark? The lack of communication is making an already difficult situation far more stressful and disorienting than it needs to be.

Sr. Director here.

Had my 1x1 with my SVP yesterday and was told that I likely will have to cut 5 people. I was told that this is company wide and most, if not all, departments and teams will be hit with a minimum of 10% for each team. Apparently it comes down to which is "cheaper" - cut ties with a vendor and get rid of a necessary tool, or cut people. In this case, it's sadly people. She couldn't tell me much but it sounds like it's supposed to be fairly big.

The gole is cut 22% headcount including other approaches.