Intel posts record revenue, lays off thousands - bit-tech.net Forums

Da Dego · 18th Oct 2007, 13:37

http://www.bit-tech.net/news/2007/10...ff_thousands/1

In a surprising twist, Intel has posted a record £4.94 billion third-quarter revenue but decides to lay off 2,000 people before the end of the year.

BioSniper · 18th Oct 2007, 13:51

fixed, thanks! -- Da Dego

proxess · 18th Oct 2007, 14:01

unemployment is going to skyrocket again. oh and also... that picture... intergalactic planetary planetary intergalactic!!!!!

inflatable · 18th Oct 2007, 14:47

That's how things go in our capitalistic world.. Only a relative very small ammount of people gets richer and richer (shareholders and top of management), while most "normal" people are just "used" to make the money, and when they're not needed anymore are simply "laid off" even if the company still makes plenty of profit.. Huge buisinesses like this only exists to make as much money as possible, not to create jobs or usefull products.. Those 2 things are only means to make money, there is no real social phylosophy behind it whatsoever..

Overhere in the Netherlands, our biggest national bank has been sold last week at the cost of thousands of jobs aswell.. The CEO was very sorry to see the bank go, and said that made him quit his job as CEO.. In the meantime got €26.000.000.-- (over 36 million USD) from the deal on his personal bankaccount.. So yeah I really believe him he was truely sorry the bank got sold and he had to quit his job as CEO..

Life is a race towards the top of the social piramide.. Very few will make it to the top, while most will stay somewhere in the middle and bottom.. I hope those 2000 laid off by Intel will find other good jobs soon..

Drexial · 18th Oct 2007, 15:42

the job cuts are to protect profitability. they are making up revinue, investors like to see lay offs cause thats less spending in the budget.

lets say those workers (at best) made $10 an hour thats $20,000 an hour X 40 thats $800,000 a week X 52 weeks. thats 41.6 million they just saved intel in spending a year. even if they are only getitng like $5 an hour thats still $21 million. That means mroe money for investers. and intels stocks look to go up in value.

Paradigm Shifter · 18th Oct 2007, 16:00

Makes loads of money... lay off staff. Yeah, that makes sense.

DXR_13KE · 18th Oct 2007, 22:24

that makes absolutely no sense.... but thats me....

The_Beast · 18th Oct 2007, 22:31

there stock has been going up and up very steadily (there was a drop one day but not much)

tuteja1986 · 19th Oct 2007, 06:28

The_Beast , the stock hasn't moved. it still the same because i own intel stock and i ain't seeing any returns like i am with my apple stock which i bought at $90.07 and its $173 now !!

Henk · 19th Oct 2007, 07:29

Well on the bright side we might see more pricedrops in the future

outlawaol · 19th Oct 2007, 08:01

Sounds about right for a mega corporation. I helped in that profit!

Its sad to see companies doing this kinda thing, as their workforce is what makes them their cash. Seems real selfish to report record sales, then dump a whole lotta people.

All well, go into business for your self! Thats where the real cash is.

Nictron · 19th Oct 2007, 11:29

It is quite sad too read about something like this but we must understand that most if not almost all will find a place for their skills somewhere else in the market, some might even join the competition and add to that company so that they compete better in the market.

We always get emotional in these situations but we must apply more thought to the matter. No one likes losing a job but it is still your choice if you are going to lie down and die or just continue forward.

That was my 2c.

f00dl3 · 19th Oct 2007, 12:38

Layoffs always improve profit and stock. Layoffs are good for the companies. Bad for employees - but since when do employees matter to American companies?

kenco_uk · 19th Oct 2007, 12:47

Caption for the picture used, "Who ate all the chips?"

WarMachine · 19th Oct 2007, 23:10

Quote:

Originally Posted by Drexial

lets say those workers (at best) made $10 an hour thats $20,000 an hour X 40 thats $800,000 a week X 52 weeks. thats 41.6 million they just saved intel in spending a year. even if they are only getitng like $5 an hour thats still $21 million. That means mroe money for investers. and intels stocks look to go up in value.

Wow! They saved (your estimate of) $41.6 MILLION (USD) this YEAR by laying off 2000 people, after bringing in $7.06 BILLION in the last 3 MONTHS.

For those that don't want to do the math, they saved .14% of their quarterly earnings by putting 2000 people out of work.

Yeah, they had to do something to protect profits... that's almost 2/10's of a percent there.

completemadness · 21st Oct 2007, 18:24

If you have employees you don't need, your stupid not to lay them off

But setting targets for people to be fired is a bit stupid, then again, its good motivation, as bad workers will work a lot harder as their jobs are at risk ....

rhuitron · 29th Oct 2007, 19:58

I Love Intel. If Intel Were a supper ugly, supper fatty girl, I would marry her just because.
And make many love children together.

But this is Gay. I am ashamed to say I like Intel sooo much.
It really does suck and I am really lost here.
Kinda makes me wanna say I don't like them as much.

No. I like them, but they lost a lot of my respect.

Why you greedy *******s?

18th Oct 2007, 13:37	#1
Da Dego Brett Thomas Join Date: Aug 2004 Location: Cleveland, OH USA Posts: 3,906	Intel posts record revenue, lays off thousands http://www.bit-tech.net/news/2007/10...ff_thousands/1 In a surprising twist, Intel has posted a record £4.94 billion third-quarter revenue but decides to lay off 2,000 people before the end of the year. __________________ "Frankly that seems overkill. iluvtrees2 arguing with spec is the intellectual equivalent of a bunny rabbit taking on a pissed-off lion." - Nexxo

18th Oct 2007, 13:51	#2
BioSniper I Mod, Therefore I Own Join Date: Feb 2002 Location: Somewhere in the south Posts: 3,454	fixed, thanks! -- Da Dego __________________ My Flickr :: Bit-tech Flickr Wii: 1792 1527 2926 7945 :: Xbox Live: BioSnipr :: PSN: Biosnipr Last edited by Da Dego; 18th Oct 2007 at 13:59.

18th Oct 2007, 14:01	#3
proxess Victim of AdvancedModernCapitalism Join Date: Nov 2006 Location: The town of Love, Funchal Posts: 598	unemployment is going to skyrocket again. oh and also... that picture... intergalactic planetary planetary intergalactic!!!!! __________________ Netbook: Asus eeePC 901; 12Gb SDD; Custom Ubuntu 9.04 Minimal Compiz Standalone. Laptop: Intel Centrino Duo T5500 1.66ghz; 2048mb RAM; ATI Mobility Radeon x2300; Hitachi 120gb iPod Classic 120GB; Maxtor 160GB External; Ubuntu 9.10 x64 and Windows 7 x64.

18th Oct 2007, 14:47	#4
inflatable Minimodder Join Date: May 2006 Location: Netherlands Posts: 49	That's how things go in our capitalistic world.. Only a relative very small ammount of people gets richer and richer (shareholders and top of management), while most "normal" people are just "used" to make the money, and when they're not needed anymore are simply "laid off" even if the company still makes plenty of profit.. Huge buisinesses like this only exists to make as much money as possible, not to create jobs or usefull products.. Those 2 things are only means to make money, there is no real social phylosophy behind it whatsoever.. Overhere in the Netherlands, our biggest national bank has been sold last week at the cost of thousands of jobs aswell.. The CEO was very sorry to see the bank go, and said that made him quit his job as CEO.. In the meantime got €26.000.000.-- (over 36 million USD) from the deal on his personal bankaccount.. So yeah I really believe him he was truely sorry the bank got sold and he had to quit his job as CEO.. Life is a race towards the top of the social piramide.. Very few will make it to the top, while most will stay somewhere in the middle and bottom.. I hope those 2000 laid off by Intel will find other good jobs soon.. __________________ Asus P5B, Intel Core 2 Duo E6600, 2GB OCZ DDR2 800Mhz, Asus 8800GTS 640MB

18th Oct 2007, 16:00	#6
Paradigm Shifter Lethargic Join Date: May 2006 Posts: 1,210	Makes loads of money... lay off staff. Yeah, that makes sense. __________________ Core i7 920 D0 @ 3.8GHz \| 6GB Corsair 1600MHz \| Gigabyte EX58-UD5 \| XFX 4870X2 2GB \| 4TB \| WUXGA

18th Oct 2007, 15:42	#5
Drexial Supermodder Join Date: Jul 2005 Posts: 297	the job cuts are to protect profitability. they are making up revinue, investors like to see lay offs cause thats less spending in the budget. lets say those workers (at best) made $10 an hour thats $20,000 an hour X 40 thats $800,000 a week X 52 weeks. thats 41.6 million they just saved intel in spending a year. even if they are only getitng like $5 an hour thats still $21 million. That means mroe money for investers. and intels stocks look to go up in value.

18th Oct 2007, 22:24	#7
DXR_13KE Madeira's banana is the best!!! Join Date: Sep 2005 Location: Madeira ; Portugal Posts: 6,467	that makes absolutely no sense.... but thats me.... __________________ *Renegade X - 0.40 Release!* <---- CLICK!

18th Oct 2007, 22:31	#8
The_Beast I am The Stig Join Date: Apr 2007 Location: Wisconsin Posts: 3,213	there stock has been going up and up very steadily (there was a drop one day but not much) __________________ Rendering Machine - Gigabyte DS3L P35 - C2Q Q6600 - Antec New Solution Series NSK4480B - Corsair XMS2 2Gb - Sapphire 2600 XT 256mb - Seagate 'Cuda 320 GB - Antec Earthwatt 430 watt - Windows XP Pro -

19th Oct 2007, 06:28	#9
tuteja1986 Minimodder Join Date: Sep 2005 Location: Sydney Posts: 48	The_Beast , the stock hasn't moved. it still the same because i own intel stock and i ain't seeing any returns like i am with my apple stock which i bought at $90.07 and its $173 now !!

19th Oct 2007, 07:29	#10
Henk Uninformed Opinionist Join Date: Jul 2006 Location: Sweden Posts: 76	Well on the bright side we might see more pricedrops in the future __________________ Q6600 \| Gigabyte GA-P35-DS3R \| 6GB Corsair DDR2@800mhz 5-5-5-18 \| Albatron 8800GTS 640MB @ 540/1000 \| 5070GB Seagates and I need more...

19th Oct 2007, 08:01	#11
outlawaol ▲Operational Hazard Sticker▲ Join Date: Jul 2007 Location: Greenbay, WI Posts: 930	Sounds about right for a mega corporation. I helped in that profit! Its sad to see companies doing this kinda thing, as their workforce is what makes them their cash. Seems real selfish to report record sales, then dump a whole lotta people. All well, go into business for your self! Thats where the real cash is. __________________ 40D\| 350D \| 24-105 f/4L \| 24-70 f/2.8 Sigma \| 50mm f/1.8 \| 75-300 f/4-5.6 Sigma \| 420ex Speedlight 365 Daily Photograph \| Smugmug

19th Oct 2007, 11:29	#12
Nictron Multimodder Join Date: Feb 2007 Posts: 98	It is quite sad too read about something like this but we must understand that most if not almost all will find a place for their skills somewhere else in the market, some might even join the competition and add to that company so that they compete better in the market. We always get emotional in these situations but we must apply more thought to the matter. No one likes losing a job but it is still your choice if you are going to lie down and die or just continue forward. That was my 2c.

19th Oct 2007, 12:38	#13
f00dl3 Minimodder Join Date: Jan 2007 Posts: 36	Layoffs always improve profit and stock. Layoffs are good for the companies. Bad for employees - but since when do employees matter to American companies?

19th Oct 2007, 12:47	#14
kenco_uk I feel your presents. Join Date: Nov 2003 Location: Bourne, Lincolnshire, UK Posts: 6,297	Caption for the picture used, "Who ate all the chips?" __________________ MSI X58M - i7 920 4Ghz - 6GB Corsair - GTX260 648/2520 ::: Vote for bit-tech T - theevilelephant - "it sounded like bouncing around on a pogo stick, screaming in chinese while occasionally throwing a cat at a door."

21st Oct 2007, 18:24	#16
completemadness Hypermodder Join Date: May 2007 Posts: 887	If you have employees you don't need, your stupid not to lay them off But setting targets for people to be fired is a bit stupid, then again, its good motivation, as bad workers will work a lot harder as their jobs are at risk ....

29th Oct 2007, 19:58	#17
rhuitron Bump? What Bump? Join Date: Aug 2006 Location: Northern California, Usa Posts: 122	Wow. I Love Intel. If Intel Were a supper ugly, supper fatty girl, I would marry her just because. And make many love children together. But this is Gay. I am ashamed to say I like Intel sooo much. It really does suck and I am really lost here. Kinda makes me wanna say I don't like them as much. No. I like them, but they lost a lot of my respect. Why you greedy *******s? __________________ You use an Apple?? Go play in traffic.