Intel is bringing back free coffee for workers to try and boost morale

Date:
Mon, 11 Nov 2024 15:02:00 +0000

Description:
Intel previously suspended employee benefits, but its now giving workers back access to free tea and coffee.

FULL STORY ======================================================================Intel workers will now get free tea and coffee in the office Other reinstated employee benefits are unconfirmed Company revenue dropped 1% YoY last
quarter, it could drop again next quarter

In an effort to boost workers' morale and encourage them to be more
productive in the office by giving them more creature comforts, Intel has restored its free tea and coffee provisions.

The gesture comes after a tumultuous few months for the company, which was forced to lay off around 15,000 workers just a couple of months ago.

Intel had previously put an end to employee perks, like free beverages,
fruit, fitness trainers and other in-house amenities as a cost-cutting measure, but it has now reinstated what seems to be its lowest-cost offering. Intel will give workers free hot drinks again

Speaking about the internal changes, Intel CPO Christy Pambianchi said: We really arent in a situation where we could continue to afford benefits and programs that are above market practice. Free food and drinks at the company reportedly cost it $100 million annually.

Reducing its headcount by 15% and implementing other cost-cutting measures
are hoped to save the company around $10 billion in annual expenses.

In its most recent earnings release , the company revealed revenue dropped 1% year-over-year to $12.8 billion, and also predicted poor performance for the next quarter. At its low point of $12.5 billion, revenue could drop even further, but at its high point of $13.5 billion, Intel could see a small uptick.

Intel CFO David Zinsner commented: Second-quarter results were impacted by gross margin headwinds from the accelerated ramp of our AI PC product, higher than typical charges related to non-core businesses and the impact from
unused capacity.

Previously synonymous with data center chips, Intel has recently been facing stiff competition from AMD, and losing out on business and subsequently subsidizing chip costs has put the company in a troubling situation.

Furthermore, Nvidias early entry to the AI chips market has catapulted it to huge successes earlier this summer it became the third company to hit a market cap of $3 trillion, marking a mammoth increase over where it was two years ago.

TechRadar Pro has asked Intel whether it will be reinstating any further benefits given the sizable reduction in headcount. We are awaiting a
response.

Via Toms Hardware You might also like Find a new career with the best job sites and best recruitment platforms AMD just outsold Intel in the data
center space for the first time ever Weve listed all the best HR software



======================================================================
Link to news story: https://www.techradar.com/pro/intel-is-bringing-back-free-coffee-for-workers-t o-try-and-boost-morale


--- Mystic BBS v1.12 A47 (Linux/64)
* Origin: tqwNet Technology News (1337:1/100)