Intel to Lay Off 10,500 Employees in Massive Restructuring.

[edDV]

Fall behind and you lose big time.

Good for consumer prices. Watch out AMD.

http://today.reuters.co.uk/news/articlebusiness.aspx?type=businessNews&storyID=2006-09...0_UK-INTEL.xml

[Wile_E]

Yet another 10,000 people in USA without jobs. Yes, I know it said "global", but you know it will be mostly USA jobs cut, and those jobs will be transferred elsewhere. You better go tell your children not to major in Computer Science or Engineering in the USA. Soon the only tech jobs remaining will be over-the-phone tech support. I know several people already that changed majors from Computer Science, because of all the offshoring.

[oldandinthe way]

Most of these jobs will be in businesses in which Intel has not been successful - products for markets which have not grown as planned.

The idiots on Wall Street have no tolerance for such attempts. So the jobs will go, the products lines will be sold to smaller companies with more patience.

Intel's bottom line will further reflect its major dominance in processor chip technology. Its enormous market share and its significantly lower manufacturing cost than the other processor competitor.

Workers will be jobless, processor competition will be cut-throat and Wall Street will be happy.

[jagabo]

Soon the only tech jobs remaining will be over-the-phone tech support.

No, most of those have already moved to India.

[ntscuser]

It isn't just chip making there's a global downturn in manufacturing so sure, there are bargains to be had if you still have a job to pay for them.

[pijetro]

I'm gonna try to convince my sons to become plumbers when they grow up...
It seems to be a lot more secure and better paying..

[edDV]

Yet another 10,000 people in USA without jobs. Yes, I know it said "global", but you know it will be mostly USA jobs cut, and those jobs will be transferred elsewhere. You better go tell your children not to major in Computer Science or Engineering in the USA. Soon the only tech jobs remaining will be over-the-phone tech support. I know several people already that changed majors from Computer Science, because of all the offshoring.

How would you do it differently? Intel and their employees screwed up.

Intel allowed itself to bloat and added projects to "expand the business plan" while assuming the core business was secure.

They got blind sided and must now fight back.

Are you advising your kids and others to major in political suck up and walking money handout jobs while the rest of the world's kids prepare to stand in line for Intel jobs when their fortunes improve?

Ever wonder why your boss wasn't educated here?

Sorry, that wasn't intended as personal.

[lordsmurf]

Soon the only tech jobs remaining will be over-the-phone tech support.

No, most of those have already moved to India.

http://youtube.com/watch?v=H7c-vWP232Q

[MOVIEGEEK]

Big business=Export jobs and import cheap labor.

[ROF]

Big business=Export jobs and import cheap labor.

That's been a great equation for several decades. While it hurt those who lose their jobs maybe if they didn't expect a pay raise, bonus, and extended vacations plus weekends off they wouldn't be losing their jobs to these lower paid individuals in other countries. It hurts to say that considering I lost my job 15 or so years ago because the company(manufacturing) moved overseas but from that experience I learned that the loyalty a company has to it's employees is something of the distant past. They can have all those fine speeches and company outings but in reality you are just a tax number and a liability to them. Nothing more.

[lordsmurf]

While it hurt those who lose their jobs maybe if they didn't expect a pay raise, bonus, and extended vacations plus weekends off they wouldn't be losing their jobs to these lower paid individuals in other countries. .

Or if the CEO and other executives did not give themself a salary and benefits that was 95% more than the average employee.

If they would spread some of that money around, everybody could have a decent living, not just a few dozen, while the countless thousands or millions can barely pay bills on household needs.

[slacker]

When anyone talks about exporting jobs, what they are really talking about is the exploitation of labor in third world countries. Europeans, for example, work far less than we in the states, and enjoy life more. They work to live, rather than live to work. It is the United States which has everything ass backwards. We work way too hard.

The third world is simply hurting more (Maslow's heirarchy) than everyone else and therefore willing to work for peanuts, for now anyway.

Stop buying product, sit back, and watch what happens. It wouldn't happen overnight, but I believe we would see less 3rd world exploitation, and more extended vacations and weekends off for workers in the states. We consume more than any other country, but if we stop buying because we as a people generally don't have good paying jobs, or simply don't have the time to enjoy the fruits of our labor, hmmm...

[edDV]

I don't know guys. When I look around Silicon Valley or LA technical leadership (leaders and bosses), I see people who grew up overseas and got graduate training here.

Rarely do you find anyone in upper technical management jobs in "Hollywood" that grew up in California. In the 70's-80's they were from the midwest USA. That continues today with more from the Pacific Rim, Canada and India. Sometimes Europe but rarely.

[mats.hogberg]

Not video related news. (See sticky for what to post in the NEWS forum).
Moving to off topic.

/Mats