Intel Reports Second-Quarter Revenue of $13.8 billion

[HardOCP News]

Intel Corporation today reported second-quarter revenue of $13.8 billion, operating income of $3.8 billion, net income of $2.8 billion and EPS of $0.55. The company generated approximately $5.5 billion in cash from operations, paid dividends of $1.1 billion, and used $2.1 billion to repurchase 74 million shares of stock.

Intel announced that it intends to return more cash to shareholders by lowering its cash balance further through increased share repurchases. The board of directors authorized an increase of $20 billion to its share repurchase program and the company is forecasting share repurchases of approximately $4 billion in the third quarter, with additional share repurchases in the fourth quarter. Over the last decade Intel has returned almost $90 billion to shareholders through dividends and share repurchases.

 

[spintroniX]

big phat bonus

 

[Ducman69]

And will still lay off 15% of their workforce right before the Christmas holidays start.

 

[spintroniX]

And will still lay off 15% of their workforce right before the Christmas holidays start.

huh? BK announced earlier in the year we are targeting a 5% reduction in workforce, primarily through attrition (and closing the costa rica site).

Even when there are layoffs, you are given a chance to move to a different site or take a payout based on number of years with the company.

GTFO here with that shit

 

[kbrickley]

huh? BK announced earlier in the year we are targeting a 5% reduction in workforce, primarily through attrition (and closing the costa rica site).

Even when there are layoffs, you are given a chance to move to a different site or take a payout based on number of years with the company.

GTFO here with that shit

I left Intel back in 2002 as part of a workforce reduction ... I had no complaints with the process ... they provided an excellent separation package and free resume assistance ... Intel is a class company and I have no hard feelings about how they handled my departure and would work for them again (probably the biggest measure of company respect)

 

[FiveFig]

I left Intel back in 2002 as part of a workforce reduction ... I had no complaints with the process ... they provided an excellent separation package and free resume assistance ... Intel is a class company and I have no hard feelings about how they handled my departure and would work for them again (probably the biggest measure of company respect)

Sounds like they know how to handle a business. Jobs come and go, so do business locations. Sure it sucks when they shut a site down, but that's business.
It might only be a zinc parachute (don't we all want the golden parachute? heh) but it's better than a lead anvil ACME style.

 

[darme]

I agree they do try to take care of employees that get displaced.