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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

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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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[-] corsicanguppy@lemmy.ca 16 points 3 months ago

Layoffs will make the stock go up. It's bizarre.

[-] ChickenLadyLovesLife@lemmy.world 11 points 3 months ago

My experiences working for huge corporations have made it clear what an enormous percentage of corporate workers spend all their time on useless busy work, so in theory layoffs can make a corporation more profitable. The problem is that it's rarely the useless ass-kissers who get laid off.

[-] jj4211@lemmy.world 4 points 3 months ago* (last edited 3 months ago)

Yeah, my team has gotten cut and the end result is one management type person per person actually doing anything... They are "managing" teams of one each, effectively...

EDIT: To make it clear, I'm not an Intel guy, just commenting on an 'Intel-like' company behavior with respect to being stupid about layoffs.

[-] tempest@lemmy.ca 4 points 3 months ago

If the bureaucracy could easily identify the dead weight projects it wouldn't need the layoffs but that also means it can't make good choices when doing layoffs.

It's like chemotherapy.

[-] pufferfisherpowder@lemmy.world 2 points 3 months ago

I just started a corporate job a while ago and they still can't really tell me what I'll be doing. My onboarding plan suggests that in month 2-3 I'll be ready to get into it. Like, dude, wtf?

[-] ChickenLadyLovesLife@lemmy.world 1 points 3 months ago

Just focus on the most important thing: going out drinking with the right superiors.

[-] pufferfisherpowder@lemmy.world 1 points 3 months ago

Ha, yes! I'm also enjoying the second most important thing: the fat paycheck

this post was submitted on 01 Aug 2024

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