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

submitted 1 month 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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[–] jj4211 1 points 1 month ago (1 children)

Frankly, no idea. They talked the talk, but it's vague enough that I wouldn't be surprised if they cut out some important people and kept a lot of the bogus crap.

Speaking from a company that has seen (less dramatic) rhetoric around similar circumstances, and everyone on the ground who understood nuance would have guessed certain projects to get canned. Then it turns out they treated the money losing projects as the sacred cows and cut the profitable projects to the bone and put them at risk rather than give up the losers.

[–] [email protected] 1 points 1 month ago

Capitalist machines of this size blinded by profits seem to be unable to see what's actually happening or make logical decisions.