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Intel is laying off over 15,000 employees and will stop ‘non-essential work’
(www.theverge.com)
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this post was submitted on 01 Aug 2024
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I think it's even more absurd than that. The CEO/board decided to make a long-term investment which wasn't going to pay off for several years. To what should be the surprise of no one, that meant short term losses.
Framing an investment in a massive amount of new infrastructure as a loss because it didn't immediately start operating in the black is beyond unreasonable, but that's the demand when all that matters is quarterly gains and year-over-year growth.