US Chip Workers Likely to Quit Jobs - McKinsey

[Barnsley]

McKinsey probably wrote this report with the restriction they couldn't mention work from home. It's a glaring omission.

The most experienced people in semis remember the culture of the 90s, when work was hard, but fun, individuals were respected more, and there wasn't this management culture of divide and conquer.

Divide and conquer has kept salaries down and workers in line but makes everything worse. Everyone is forced to be a mercenary and look out for themselves, no cooperation.

The new new thing to prevent salaries growing too much is yanking WFH so people leave. That didn't work as planned, people needed more encouragement to leave, so they are doing layoffs and concentrating work on the survivors. That makes the survivors leave as soon as they can, which is what is happening now. It's universal, same at Intel, Samsung and TSMC.

I think management is currently seeking new ways to make everything suck more, because salaries are still pretty high and growing. They can't collude on anti-poaching agreements, that's been ruled illegal. Inflation is a factor. The new kids have $200K in college loans. They can't make it on salaries < $100K a year, which means what do you pay someone with 15 or 20 years of experience? Everything moves up.

Isnt shareholder value the No.1 priority though?

Easiest thing to do is force salaries down no?

If you have solid SOPs and QA systems in place it takes a while for the performance to dip on current processes.

There will not be a lot of new product created though as there is no incentive to invest.

 

[bilau]

Anyone here believes in INTC and is going to bet "INTC 2026 DEC 60 call option" today?

• Due to the low probability, the option's premium—the price paid to purchase it—would be minimal, likely just a few pennies or less.
• That's the beauty of the far out-of-the-money call option Silicon Valley startup companies had been offering to their employees. Companies pay almost nothing for premium and employees dream on executing it someday if they work hard and with luck.

But anybody wants to get far out-of-the-money call option from BIG Corporations, like INTC? Even so, profit is minimum.

I have had options from several companies, and they were not marked far out of money. It certainly can (and had) become out of money when I vest, but when they were granted, they were always marked close to market (or fixed by the BOD for start-ups.)

BTW, INTC261218C60 today is 410 pennies.