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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

239 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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[–] Allonzee 49 points 1 month ago* (last edited 1 month ago)

All the idiot Americans cheering about scapegoating single mothers as welfare queens since the 80s, never an utterance by anyone with power of all the DO NOTHING private investors that drop their chips from their last trip to the exploitation casino and demand all the profit for no labor whatsoever.

"Fuck you, I'm an owner, pay me."

Prior to the Jack Welch Ronald Reagan betrayal, the model was correcly "customers first, employees second, investors third."

Everything falls apart when you give every spare penny to the people who A) dont DO anything to make the money they demand and B) demand the companies they own sabotage their missions and futures to goose net profit for the current quarter so they can profit and walk away having severely damaged those company's ability to do what they existed for, only to demand it of other companies.