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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 Eezyville@sh.itjust.works to c/technology@lemmy.world

235 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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[–] Thorny_Insight@lemm.ee -1 points 3 months ago (2 children)

What's the problem? They put the money back into circulation. That's a good thing, no?

[–] Burn_The_Right@lemmy.world 14 points 3 months ago

The wealthy hoard their gold. They don't circulate it.

[–] tmcgh@lemm.ee 1 points 3 months ago (1 children)

The problem is that it is just poor money management. He could've been set for life. Put that into an index or S&P500 and get 10% every year. That's 70k and he wouldn't even have to work. If you took that 70k and invested back into the fund, you can double your money in about 7 years, assuming 10% returns.

[–] Thorny_Insight@lemm.ee 2 points 3 months ago

Yeah I agree. That's what I would've done. You saying that wealth is wasted just made it sound like the money dissapeared somehow. He wasted his chance on financial independence, sure, but that's not away from the rest of us.