Old fabs likely headed to a chopping block (sell, or chop up and sell. Debt gets wiped, stock goes up. Simple. Execs are slashing anything that does not drive growth. I guess that's the mantra now... More status changes and outsourcing ahead to result in 45K or less employees.
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Depends on the timeframe, but I'd agree with a summer target in the 75k area, followed by a period of restructuring which includes flipping BB to GB for entire job functions.
Groups that the company thinks can be sold may retain some headcount, and that may be true for products which are to be wound down. So that results in headcount declining over the next year.
There will also be hiring but not on a large scale, because Intel can no longer afford the Field of Dreams business model.
Longer term something in the 30k to 40k range may be where it settles out, after the older fabs are sold. Less if the IFS cost focus is the setup for a spin off, which becomes an option but not a certainty.
It seems more important to start early and do the right job and build up the positive momentum gradually. It feels late already.
Fabs have been millstones around Intel's neck, since 2016. Always missing milestones, leading to product delays. Now, at least, the Client product groups have a TSMC option, without needing to wait eternally for a new process. Server products have taken a severe beating as they are still married to Intel fabs.
Fabs are not Intel's strength anymore. Intel will do a lot better without Fabs.
@ap it means 45k employees remaining after all of the restructuring. So less than half of all current employees will survive the full restructuring.
Fabs are the future , not antique x86 instruction sets. Someone has to build all those superior RISC-v CPUs
@a6 I'm hearing 45K heads including 2024 15K. Maybe that's what OP means?
@OP which fabs would they ki-l?
Total revenue USD or remaining headcount by December?
Sell is better to save employees job than layoff.