Intel had 124,800 employees as of December 2023 according to filings [1]
So 12% of all employees. This would basically drop them back to pre-COVID levels, which they may have overhired for (like many tech companies). Still rough.
Thus, it will be more than 15,000 employees for sure. :(
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Written another way: at least 1 in 7 Intel employees will be let go. I don't know how a CPU & foundry can fire 15% in two quarters without significant negative repercussions.
TL;DR: How much of this is a potential class-action[1] and how much of this is failure to deliver on AI?
Am I missing something? On one hand, I think I get it: Intel hasn't been a GPU company historically. On the other, this quotes seems suspicious given Intel's gen 13 and 14 cores have issues:
> Simply put, we must align our cost structure with our new operating model and fundamentally change the way we operate
At the same time, my understanding is AMD seems ahead[2] of Intel in AI / CUDA support. This quote seems to be a nod to that without saying much else:
> Our revenues have not grown as expected — and we’ve yet to fully benefit from powerful trends, like AI. Our costs are too high, our margins are too low.
Before anyone point oout "Intel® Extension for Pytorch*" exists[3]:
1. That seems to be the official name (what?)
2. Their installation homepage seems a little convoluted[4]
So 12% of all employees. This would basically drop them back to pre-COVID levels, which they may have overhired for (like many tech companies). Still rough.
[1]: https://stockanalysis.com/stocks/intc/employees/