Gotta hand it to Pat Gelsinger milking America out of $50B for homemade chips while the company continues to bleed talent, money, patience.
Where can they go? All of the other tech companies are in the same boat and laying off tens of thousands.$30,000 Millionaire said:
LMFAO. Literally all of their talent is going to bail as soon as they possibly can. Losers.
Life advice - if a company you work for ever cuts salaries, get out.
Do you really believe that?ea1060 said:Where can they go? All of the other tech companies are in the same boat and laying off tens of thousands.$30,000 Millionaire said:
LMFAO. Literally all of their talent is going to bail as soon as they possibly can. Losers.
Life advice - if a company you work for ever cuts salaries, get out.
evan_aggie said:
Gotta hand it to Pat Gelsinger milking America out of $50B for homemade chips while the company continues to bleed talent, money, patience.
Aggie95 said:
So what happens when they can't build their new Ohio plant? Or worse yet, China waits until plant produces first chip and drops global pricing by 30%+?
i saw a lot of A+ tech players riding the bench in 2000$30,000 Millionaire said:Do you really believe that?ea1060 said:Where can they go? All of the other tech companies are in the same boat and laying off tens of thousands.$30,000 Millionaire said:
LMFAO. Literally all of their talent is going to bail as soon as they possibly can. Losers.
Life advice - if a company you work for ever cuts salaries, get out.
The A+ players can always get jobs.
Yeah. I'll get roasted on here for this because everyone is an internet badass behind a keyboard, but a lot of A+ tech guys aren't great at the networking and interview skills that it takes to get a job. I'd go as far as say that most HR people at tech companies couldn't even understand my resume if I included all the "A+" stuff on it.Ag92NGranbury said:i saw a lot of A+ tech players riding the bench in 2000$30,000 Millionaire said:Do you really believe that?ea1060 said:Where can they go? All of the other tech companies are in the same boat and laying off tens of thousands.$30,000 Millionaire said:
LMFAO. Literally all of their talent is going to bail as soon as they possibly can. Losers.
Life advice - if a company you work for ever cuts salaries, get out.
The A+ players can always get jobs.
IslandAg76 said:
When a company goes in the dumper, like Intel has, it isn't just the head guy who isn't producing.
Tough spot for a once great company..and, I'm a long term stock holder hoping they turn it around.
Ag92NGranbury said:
i think that you meant 2020 :-)
jh0400 said:
I honestly wouldn't be surprised to see more companies announce lower salaries for management in the coming months on top of continued layoffs. Overall the run up in tech salaries fueled by a near endless supply of VC funding is long-term unsustainable. A lot of companies were able to raise before funding dried up and should be sitting on 12+ months of runway. Once that starts to dry up you'll see more labor cost cuts as companies that are left for dead by their investors start to do anything they can to stay in business another day. I expect you'll also see more M&A from sponsors and we'll-capitalized strategics coming in to pick over the scraps.
QBCade said:jh0400 said:
I honestly wouldn't be surprised to see more companies announce lower salaries for management in the coming months on top of continued layoffs. Overall the run up in tech salaries fueled by a near endless supply of VC funding is long-term unsustainable. A lot of companies were able to raise before funding dried up and should be sitting on 12+ months of runway. Once that starts to dry up you'll see more labor cost cuts as companies that are left for dead by their investors start to do anything they can to stay in business another day. I expect you'll also see more M&A from sponsors and we'll-capitalized strategics coming in to pick over the scraps.
I wouldn't expect to see salary cuts to public tech companies. Frankly, that is the kiss of death for morale and forward hiring. Startup / Private may go that ways as they can entice with stock options. IMO, Intel is hosed unless they completely change mgmt. Top tier employees will leave and they won't be able to fill with same caliber talent as nobody wants to work where you get salary cuts. Doomed
jh0400 said:QBCade said:jh0400 said:
I honestly wouldn't be surprised to see more companies announce lower salaries for management in the coming months on top of continued layoffs. Overall the run up in tech salaries fueled by a near endless supply of VC funding is long-term unsustainable. A lot of companies were able to raise before funding dried up and should be sitting on 12+ months of runway. Once that starts to dry up you'll see more labor cost cuts as companies that are left for dead by their investors start to do anything they can to stay in business another day. I expect you'll also see more M&A from sponsors and we'll-capitalized strategics coming in to pick over the scraps.
I wouldn't expect to see salary cuts to public tech companies. Frankly, that is the kiss of death for morale and forward hiring. Startup / Private may go that ways as they can entice with stock options. IMO, Intel is hosed unless they completely change mgmt. Top tier employees will leave and they won't be able to fill with same caliber talent as nobody wants to work where you get salary cuts. Doomed
The reality in tech is that more people will be able to keep their jobs at a lower rate, or there will be fewer people employed at the inflated rates that came from the last two years. Privates are in the same river, different boat. In order to entice new hires they will need to bring down their 409a valuations which penalize people that have been there a while. At IPO or change of control it's likely that there will be a middle tranche of employees that are underwater on their options if they were granted in 2020-21. There really is no good outcome here, but one way or the other the labor market will find it's way back to some sort of equilibrium.
QBCade said:jh0400 said:
I honestly wouldn't be surprised to see more companies announce lower salaries for management in the coming months on top of continued layoffs. Overall the run up in tech salaries fueled by a near endless supply of VC funding is long-term unsustainable. A lot of companies were able to raise before funding dried up and should be sitting on 12+ months of runway. Once that starts to dry up you'll see more labor cost cuts as companies that are left for dead by their investors start to do anything they can to stay in business another day. I expect you'll also see more M&A from sponsors and we'll-capitalized strategics coming in to pick over the scraps.
I wouldn't expect to see salary cuts to public tech companies. Frankly, that is the kiss of death for morale and forward hiring. Startup / Private may go that ways as they can entice with stock options. IMO, Intel is hosed unless they completely change mgmt. Top tier employees will leave and they won't be able to fill with same caliber talent as nobody wants to work where you get salary cuts. Doomed
evan_aggie said:
Boggles my mind they'd cut salary for everyone vs just drop the bottom 10%. It would be such an Intel move to do that in the name of fairness and equity for all. Just a terrible decision all around.