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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

236 comments fedilink hide all child comments

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] 10 points 3 months ago (1 children)

I mean, stock prices do go up after stuff like this. It's a reliable way to profit.

The system sucks, but this is literally how rich people turn money into more money, while we complain we don't have enough.

I may be a socialist, but I live in a capitalist dystopia, so sometimes I just exploit the system that exists instead of constantly taking the idealistic high road and getting kicked in the teeth for it.

[–] UnderpantsWeevil 7 points 3 months ago* (last edited 3 months ago)

Even Marx dabbled in the equities markets.

People seem to think having an economic philosophy is the same as having a moral philosophy. Absolutely not. If you look at a system and conclude "This is dysfunctional, it's leaking money everywhere" that doesn't preclude you from getting a sponge and mopping some of that money up.