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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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[–] mannycalavera@feddit.uk 65 points 3 months ago (5 children)

In January 2022, Intel announced an initial $20 billion investment that will generate 3,000 jobs,

Not sure why Biden didn't put any terms and conditions on giving away all this money 💰?

[–] arc@lemm.ee 54 points 3 months ago (3 children)

The US and Europe has become acutely aware that too much semi-conductor manufacturing has been outsourced to China and other Asian nations and they're trying to build some back domestically. So that's the geopolitical reason for it.

[–] todd_bonzalez@lemm.ee 7 points 3 months ago

Maybe the US should consider Intel's massive reduction in staff and faulty chips as a national security threat and nationalize them.

[–] rottingleaf@lemmy.world 0 points 3 months ago

That's the justification. Don't you know what kind of people gets into high governmental positions?

Making some friends rich was the reason.

Still, this sucks huge donkey balls, a lot of very smart and very knowledgeable people, maybe more valuable than a 100 (ok, maybe 10, or maybe 5, it's a rhetorical device) copies of me, work in such inefficient structures, while there could have been a dozen TSMCs over the world with their competencies.

I have come to agree that nations have interests, but their governmental structures generally work against those. There's a wheel to be invented there.

[–] uis@lemm.ee -1 points 3 months ago* (last edited 3 months ago)

I'm not sure what this has to do "Not sure why Biden didn't put any terms and conditions on giving away all this money 💰?". Wait, I do. This is question exactly why Biden didn't put condition of bringing production back.

- Russian troll, according to some.

[–] ChickenLadyLovesLife@lemmy.world 36 points 3 months ago (1 children)

$20 billion investment that will generate 3,000 jobs

Lol that's $6,666,667 per job. I could create a job with that much money: counting all my fucking money.

[–] rottingleaf@lemmy.world 10 points 3 months ago

Actually, yeah, one can pick 3k people and just pay them 4k$ per month indefinitely till they die and something will remain.

[–] GBU_28@lemm.ee 21 points 3 months ago* (last edited 3 months ago)

These corps are slimy Fucks. It probably did create 3k jobs. Low paying, temporary jobs. These layoffs are probably other jobs

[–] Burn_The_Right@lemmy.world 7 points 3 months ago (1 children)

The U.S. should sue the shit out of them.

[–] uis@lemm.ee 4 points 3 months ago

It seems you are confusing US for EU

[–] Dark_Arc@social.packetloss.gg 6 points 3 months ago

The string is that they use it for the creation of a domestic chip plant, not salaries for existing employees.