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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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[-] GiddyGap@lemm.ee 3 points 3 months ago

So, buying opportunity?

[-] RoosterBoy@lemm.ee 5 points 3 months ago* (last edited 3 months ago)

"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.

[-] todd_bonzalez@lemm.ee 10 points 3 months ago

I mean, stock prices do go up after stuff like this. It's a reliable way to profit.

The system sucks, but this is literally how rich people turn money into more money, while we complain we don't have enough.

I may be a socialist, but I live in a capitalist dystopia, so sometimes I just exploit the system that exists instead of constantly taking the idealistic high road and getting kicked in the teeth for it.

[-] UnderpantsWeevil@lemmy.world 7 points 3 months ago* (last edited 3 months ago)

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.

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

Would be awesome if DARPA bought them...

[-] fernlike3923@sh.itjust.works 1 points 3 months ago

Man I really should've bought some Intel instead of Nvidia.

[-] fernlike3923@sh.itjust.works 2 points 3 months ago

Wait, their stock is 30% down today, what happened?

[-] Maggoty@lemmy.world 2 points 3 months ago* (last edited 3 months ago)

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?

[-] fernlike3923@sh.itjust.works 2 points 3 months ago

Yeah, I guess.

this post was submitted on 01 Aug 2024

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