Intel:
While making the company more efficient, Intel plans to increase investments in the products and technologies that that will fuel revenue growth, and drive more profitable mobile and PC businesses. Through this comprehensive initiative, the company plans to increase investments in its data center, IoT, memory and connectivity businesses, as well as growing client segments such as 2-in-1s, gaming and home gateways.
These changes will result in the reduction of up to 12,000 positions globally — approximately 11 percent of employees — by mid-2017 through site consolidations worldwide, a combination of voluntary and involuntary departures, and a re-evaluation of programs. The majority of these actions will be communicated to affected employees over the next 60 days with some actions spanning in to 2017.
The press release is typical marketing speak. Bottom line is a lot of good people lost their jobs today.
If the companies want to save money, maybe they should cut back, WAYYYY back on what they pay executives. It seems that pay is very top heavy in US corporations and the people who do the heavy lifting get the crumbs.
Just a thought
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Of course. Executives of very large companies will almost never consider cutting their own top-heavy hierarchy. Not even when, say, a respected consultant charged with the task of finding ways to reduce inefficiency points out an enormous proliferation of redundant senior managers. The very idea flies against an ingrained culture that incentivizes C-levels to create such redundancy in order to appear more important.
“We got fat and happy, and missed the switch to mobile. Watch us scramble to find our own versions of what Microsoft is trying to do.”
Sadly, too true.