News Intel posts record revenue, lays off thousands

http://www.bit-tech.net/news/2007/10/18/intel_posts_record_revenue_lays_off_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.

 

fixed, thanks! -- Da Dego

 

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

 

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..

 

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.

 

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

 

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

 

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

 

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 !!

 

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

 

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.

 

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.

 

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

 

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

 

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.

 

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 ....

 

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?