Looks like redundancies on the way for INTEL in Kildare - 15% cuts world wide

aidanodr

Though i would say who ever wants to get the chop will receive very handsome packages AND find a job elsewhere no problem at all

This is more to do with NVIDIA and AMD well ahead of Intel in whats tops now these days - AI chips and systems and not recession related

Intel is to cut 15pc of its global workforce of over 100,000 people, the company said.

The process will begin next week, when the chip giant will offer “enhanced retirement” options, as well as voluntary redundancy packages.

The move looks likely to affect some of the 5,000 employees at the company’s Leixlip site, although the company has not yet clarified the position in relation to Kildare-based staff.

https://www.independent.ie/business/technology/intel-confirms-15000-job-cuts-globally-as-kildare-staff-wait-to-hear-whether-theyre-affected/a1245770947.html

Oscar_Madison

A lot of car mechanics left their jobs to join Intel - I wonder will any of them be impacted

Buddy Bubs

Theyll all get great packages if made redundant but I know loads and loads of people that work in intel, none of them are IT or tech geniuses by any stretch of the imagination. So many made up jobs in that place it's unbelievable.

Nvidia have them destroyed now with a better product

emo72

Maybe Nvidia could buy the site. God could you imagine if intel pulled out, that site is huge. Would it fall into disrepair or is it even possible to do anything else with it?

alias no.9

If they offer it as a voluntary package in Leixlip, looking for 15% of workforce, they'll probably be oversubscribed. It's likely to depend on people's roles however which will see people tapped on the should which can become very divisive within teams.

enricoh

Was working at a fellas house around 5 years ago n he came home with a puss on him one evening. He worked in Intel 15 years n his team was disbanded n made redundant.

I said to him he probably got 300k redundancy - he didn't blink! Probably half a mil in reality!

This is it

https://www.boards.ie/discussion/comment/122457825#Comment_122457825

Probably 100 million!

deravarra

Love the humour re: redundo payouts.
15 years would give max payout. Most likely nothing near 300k.
I am working at the plant for over 25 years. If I left with redundancy, I would get nowhere near that.
Most I would get would be approx 120k. Most would be under that, and some slightly over.

TheOneDon24

https://www.boards.ie/discussion/2058362603/looks-like-redundancies-on-the-way-for-intel-in-kildare-15-cuts-world-wide

A lot of the big multinationals in Ireland are struggling at the moment... Writing could be on the wall as they say!

plodder

https://www.boards.ie/discussion/comment/122457746#Comment_122457746

The fabs are worth billions and would be sold as a going concern, making other companies' products (maybe incl. Nvidia's) though I'd be surprised to see them get into the fab business themselves. I wonder if it's been part of Intel's problem, being a jack of all trades (semiconductor design and manufacturing), rather than being a master of either.

ongarite

There has been a hiring freeze in place for last 6 months anyway which was meant to be in place until 2025.

They will reduce their headcount but total number of employees at the site will be static IMO. Intel will push even more work to their equipment suppliers as they realistically only need skeleton staffing with their Intel Foundry initiative.

Vast majority of equipment suppliers have doubled or tripled staffing levels since COVID.

tabby aspreme

With the 11bn investment for a 49% share of Fab 34 production, back in June of this year, I doubt there will be much changes in Leixlip, it will be another 2-3 years before 34 is completely fitted out and up to full capacity.

herbalplants

Apparently some people will get 500k package, I wonder how many all the same.

Loafing Oaf

https://www.boards.ie/discussion/comment/122490345#Comment_122490345

That's nearly as good for the economy as them working there until retirement. They could buy a big house to let with that package and live off the proceeds for the rest of their days…

Oscar_Madison

The Times today saying 8 weeks per year of service capped at 2 years salary

herbalplants

https://www.boards.ie/discussion/comment/122490392#Comment_122490392

So hardly any of them will get 500k really. Perhaps some executive at the top may.

aidanodr

https://www.boards.ie/discussion/comment/122490392#Comment_122490392

https://www.boards.ie/discussion/comment/122490442#Comment_122490442

Well my reading of that is 104 weeks is the cap, so 2 years salary max? No sure what the average salary levels are there?

Oscar_Madison

https://www.boards.ie/discussion/comment/122490894#Comment_122490894

No idea but I’d say a massive range depending on role- if you’ve worked there on 100k PA which I’d say is a very common salary , you’d get 15k per year of service - obviously you still need to get another job if not close to retirement but a decent chunk of change until you do