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.
Lets hope they ditch the israel division
Linkerbaan isn’t capable of any discussion that doesn’t involve Israel, and must involve it in any thread he participates in no matter how irrelevant. This is just what he does.
I wonder how irrelevant Intel is to israel
Intel Israel is the largest private employer in the Israeli hi-tech
Also nice false framing and straight up lying about my activity on Lemmy.
Anyone else still beliving capitalism will do R&D willingly? Even most recent and hyped(not without reason) development - powervia - came from institute from former soviet bloc.
So, buying opportunity?
“Here is more evidence that our system is fundamentally broken and doesn’t serve the people who make it run anymore”
You: “How can I profit from this?”
You sound like a CEO in the making.
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.
The entire stock market is a casino for rich people and the rest of us are just hoping we can scratch a retirement out of it?
So the semiconductor jobs and manufacturing aren’t coming back to the US?
Who else saw this coming? Because I did.
I remember telling people that and they wouldn’t believe it. Time has a way of making the unknown known.
I read it and predicted this outcome in 2022. If Intel wanted to open factories and employ people in the US it would have done so without the CHIPS Act.
No company will say no to free taxpayers’ money, so they didn’t. But they spent it on stock buybacks and now they’re laying off thousands of workers and are selling a defective product.
Now here’s an article for you to read that may be unpalatable https://globalsouth.co/2023/07/10/michael-hudson-why-the-u-s-economy-cannot-re-industrialize/
Fair criticisms, but the statement from CEO is that the layoffs are to offset fab investments, so there isn’t any clear reason to conclude that Intel’s US chip manufacturing is dead based on this. We won’t be able to infer anything of that sort until we see what areas they actually cut.
Non essential work, oh dear Product and Project managers, where are you gonna stand in the way of good products next?
Executives will be “essential”, QA, sys admins, etc will be non essential.
Eliminating QA is a huge value. We all know it reduces costs relating to employing people, but that’s just the start. It eliminates the number of bugs found and reduces the amount of work that comes with it. All in all it helps projects to release on time. There could be no problem with this, clearly.
Traditional QA is horse and buggy shit anyway. Shift left and make your tests the requirements (ATDD). Testing is self service, automated and there’s zero delta between behavior intended and behavior tested. Put product owners on the hook to learn Gherkin and Bob’s your uncle.
