Thread regarding Intel Corp. layoffs

Fire the entire Intel board and take the raided money back. Id--ts that failed pure and simple. Stop the construction contracts, kick out the prima donna suppliers, and make some chipsets that the market wants not what it's forced to take. Wintel, HP, Lenovo, and Dell can all go F themselves. Intel is now MAGAtel own by Wash DC. Make a data center with 100% Intel servers and lease it out to the Feds and states.

How the fu-k did all these buffoons get to the level they are at?! This is comical. The intel system just promotes clowns

Why trust a finance bro to do an engineers job?

Yeary su-ks. Nothing new

this is rhetorical question right @OP ?

Doesn’t Frank know Lip-Bu spent a large part of his formative years as a power bottom, I mean forward.

https://www.tomshardware.com/tech-industry/semiconductors/intels-chairman-reportedly-tried-to-broker-a-deal-to-sell-fabs-to-tsmc-ceo-lip-bu-tan-opposed

My boy FY!

@am Global Foundries almost went bankrupt when they were spun out of AMD too quickly. HUGE job losses.

Arguably, the stakes are higher for IFS, due to the extreme capital requirements needed to support even being in the ballpark of leading node.

@am Another aspect to the clown show. Yeary v LBT

@a1 This seems to be the key sticking point, whether to further invest in IFS or do a fast spin off.

Yeary has stopped the capital raise, and instead wants to tie up with the prez and force TSMC to capitalize IFS, pushing LBT out if needed in order to make that happen.

Source:
https://www.wsj.com/tech/intel-ceo-lip-bu-tan-trump-board-9cc08631

More recently, Intel had lined up a handful of Wall Street investment banks to facilitate a multibillion-dollar capital raise, with the aim of using the money to invest in its fabrication plants and bolster the company’s balance sheet, the people said.

Management hoped to kick off the efforts around the company’s most recent quarterly earnings report in late July.

But some board members, including Yeary, wanted to move on a slower timeline than Tan and pushed it back, possibly to 2026, the people said.

There are so many Intel clowns.
It’s hard to keep track.

I was concerned when Bob Swan was pushed out, why he didn't remain on the board for sake of continuity?
If he was indeed a "care-taker", CEO after BK was forced out, then he could have remained on the BoD when the successor (eventually Pat) was hired.
I mean Bob "gracefully" exited as CEO, so he could have remained on the board..

@a6 They have cleaned it up somewhat since LBT joined.

Even have some semi experienced people on it now.

Yeary is clueless about strategy, but he has pushed out some of the more useless Board members.

The board has always been non technical clowns with no business acumen and will continue to be well compensated clowns if they don’t get any accountability.

IFS will almost certainly be spun off and Yeary may be correct in pushing for that to immediately happen, but he is still a sack of nuts and one of the worst things to ever happen to Intel.

LBT is trying to right-size IFS before spinning it out, to prevent it from going through a near-death experience like what happened to Global Foundries.

Many, many workers will be terminated if IFS is rushed to market, and it looks like that is how this works out, very, very soon.

More from the article...

Yeary, a former investment banker, had drawn up a plan for Intel to exit from the foundry business entirely earlier this year when acting as interim executive chair. Yeary’s proposal involved spinning out the business and having other companies such as Nvidia and Amazon take stakes in it, the people said. Yeary also explored brokering a sale of the business to Taiwan’s TSMC, the people said, but that effort went nowhere.
Tan, on the other hand, has argued that Intel’s foundry business is integral to its success and needed to ensure the U.S. doesn’t become reliant on foreign semiconductor companies such as TSMC and Samsung, the people said. (While TSMC and Samsung have committed to building more plants in the U.S., critics say their research and development efforts are still centralized elsewhere.)
More recently, Intel had lined up a handful of Wall Street investment banks to facilitate a multibillion-dollar capital raise, with the aim of using the money to invest in its fabrication plants and bolster the company’s balance sheet, the people said.
Management hoped to kick off the efforts around the company’s most recent quarterly earnings report in late July. But some board members, including Yeary, wanted to move on a slower timeline than Tan and pushed it back, possibly to 2026, the people said.
Intel had also been exploring a potential acquisition of an AI business, the people said. Proponents of the deal, including Tan, saw it as an opportunity for the company to catch up to rivals such as Nvidia and AMD, which are much further ahead in AI. But the board took its time deliberating the potential deal, and another publicly traded technology company appears poised to buy the target instead, the people said.
Intel has also recently pursued strategic partnerships that fizzled out, the people added.
Tan feels his hands have been tied by the board to fix the company, the people said. Intel is buying time by reining in spending. It announced a 15% cut to its workforce with earnings last month and scrapped plans to spend tens of billions of dollars on new chip facilities in Europe. Intel also said it would further slow the pace of construction on an Ohio project.
“There are no more blank checks,” Tan wrote in a recent memo to staff. “Every investment must make economic sense.”