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Intel is laying off over 15,000 employees and will stop ‘non-essential work’ (www.theverge.com)

submitted 3 months ago by [email protected] to c/technology

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So they got all that money from Uncle Sam's CHIPS Act only to lay off 10,000 employees and make themselves "lean". Govt funded unemployment.

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[–] [email protected] 18 points 3 months ago

It’s always the boot lickers saying they. CEO used to be THE guy in charge. It used to be someone who knew the company and worked their way up. McDonnell Douglas/Boeing used to have engineers in charge. Same with GE. Then Jack Welch came along and destroyed that entire ideology.

He was the one that opened the door to late stage capitalism, at least in the USA. It’s hilarious how these companies piece meal themselves off acting like they did something for short term gain. Meanwhile, the Japanese, Chinese, and European companies are happy to buy all this knowledge as they are still playing the long game rather than the MBA clown show.