Intel is laying off over 15,000 employees and will stop ‘non-essential work’
Intel is laying off over 15,000 employees and will stop ‘non-essential work’
That’s a lot of layoffs.
So they got all that money from Uncle Sam's CHIPS Act only to lay off 10,000 employees and make themselves "lean". Govt funded unemployment.
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As a 30-year-old trying to break out into a tech career, this is incredibly disheartening.
Really difficult to not give up all hope with headlines like these. How to believe in potentials for opportunities with these barrages of bad news? Where is the hope--Any silver linings at all?-
Intel is a failing company and has been for years, it has nothing to do with the tech industry. They failed to invest in chip fabrication, and their designs are soundly beaten by AMD and Nvidia. Look at AMD and Nvidia, they're making record profits and hiring.
Also, the tech industry is a huge place, there are plenty of opportunities outside of the hardware niche that Intel operates in. I will admit though that the current interest rates and risk of recession does make it harder for junior programmers.
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They are doubling down on that mistake it would seem. Article says most of their losses last month were from their foundry division. I realize I'm just a random person on the ground, but shit like this really has me shaking my head. For a company like Intel foundry is absolutely essential to their business. If they can't build the chips, build them better, faster, smaller, they can't compete. It's like if Airbus said they are firing everybody in their airplane division to focus on important things. What the hell, the airplane is the important thing. Same thing with Intel.
Seems like a great time to buy stock in AMD.
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Yup. A better simile is Boeing. Quality don’t matter if cutting it makes number go up. Oops.
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John Deere smiles and waves from the sidelines.
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Well it's cannibalizing the company. You're absolutely right about Boeing.
HP was another example. Fire all the engineers and R&D types, rush whatever's already in the pipeline into production. You get a couple of fantastic quarters because you have new products without the R&D costs. But then you run out of new products in the pipeline and everything goes to shit because you killed your golden goose.
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I will always say, "Fuck Carly Fiorina" for ruining the finest company in the engineering world.
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Absolutely. What she did to HP was almost criminal.
HP, Boeing, Intel (twice now)...
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Apply to non-tech companies. There ate many companies who aren't in the tech sector that relies on in-house tech.
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You like tech? You like wiring up and programming state-of-the-art commercial automation, access control, and cctv systems? You like to move around as well and work with your hands and tools, all on the same job? Become an electronic security technician. Been doing it for 20 years, it's great, and always hiring, almost never firing, unless you get caught smoking meth or something.
Nothing wrong with a more blue-collar style job.
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Similar job is power grid installation. Those are in high demand, and you get yourself a passport and you can make even more setting up transformers in weird places in the world after a few years experience.
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This sounds beyond ideal--I don't know if you're trolling, because I have to imagine this line of work is never in demand at all, but hoping for interviews soon, and I can't thank you enough even if you're joking
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As the OP said, get a job outside of tech.
The biggest research hospitals employ electronic engineers, software engineers, chemical engineers, physicists, statisticians, network engineers, sysdamins, etc.
Insurance companies? Auto industry? Power companies, pharmaceuticals, local governments etc. The best part about being a STEM is that you have a place everywhere. You just gotta be willing to bend your expectations until you find something that fits you.
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But how do I find those jobs? When I search in Indeed all I get are tech companies or MSP's. I'm currently working as a sysadmin for a Mom & Pop company and are severely underpaid.
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My dude, if you lived in the right city, could pass a drug screen, and are not a moron, could get you an interview for a job installing power grid equipment in a week. With overtime take home pay is usually around 80k first year, after that it depends on how much you want to work.
We have blue collar guys making 250k+ a year. Granted they are away from their home most of the time, but most of them are younger dudes with no family.
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Find something middle sized. I work in a bakery, around 200 employees. I do some industrial automation, in house IT support and I ended up writing ERP for the joint. I think I could get 20 to 30 percent more at a larger company but here I do what I want and not what I'm told to.
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Get 5 remote work jobs and keep the ones that don't suck.
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What kind of tech are you trying to get into?
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