Intel, eyed for billions in U.S. grants, will fire 15,000 workers

[Hume]

Chip maker Intel said Thursday that it plans to lay off 15,000 people, a troubling sign for the Biden administration’s multibillion-dollar plan to rebuild the U.S. chip manufacturing industry.
The layoffs will affect more than 15 percent of its workforce, Intel said. The announcement came as Intel CEO Pat Gelsinger told investors and staff that the company needed a massive restructuring to slash costs after posting a $1.6 billion loss in the second quarter.

https://www.washingtonpost.com/technology/2024/08/01/intel-layoffs-chips/

 

[Hume]

Intel previously estimated that its new U.S. factories would create 10,000 manufacturing jobs and 20,000 construction jobs.

The job cuts are part of a plan to cut $10 billion in costs in 2025.

 

[Hawkeye10]

Intel reminds me a lot of Boeing...a once great company now completely fucked.

 

[Hawkeye10]

Intel previously estimated that its new U.S. factories would create 10,000 manufacturing jobs and 20,000 construction jobs.

The job cuts are part of a plan to cut $10 billion in costs in 2025.

Intel has had no idea what it was doing for a very long time now.

 

[T. A. Gardner]

This is what happens when you let Progressive Leftists run your country...

 

[Hume]

duhhhh leftists duhhhhhhhhhhh

 

[Nomad]

This is what happens when you let Progressive Leftists run your country...

The right-wing idiot answer for everything.

 

[Nomad]

duhhhh leftists duhhhhhhhhhhh

These fucking right-wing droolers are the real problem in this country.

 

[Hawkeye10]

These fucking right-wing droolers are the real problem in this country.

Time to start building the massive piles of bodies.

 

[T. A. Gardner]

The right-wing idiot answer for everything.

I have over 200 years of history backing my statement up.

 

[Nomad]

I have over 200 years of history backing my statement up.

Only in your fucked up, twisted, mentally retarded imagination.

 

[Matt Dillon]

Meh, Intel chips suck right now. They haven't had any real innovation since 2007 or so.

The NVIDIA thing boggles the mind, too. Those jokers didn't even bring anything to market for around 2 years but their stock

kept going up. There's some serious fuckery going on with that.

 

[T. A. Gardner]

Only in your fucked up, twisted, mentally retarded imagination.

 

[cawacko]

It was massive corporate welfare but for some reason there were people on the right who supported it under the guise of national security.

https://twitter.com/x/status/1820243293948592392

 

[Hawkeye10]

https://twitter.com/x/status/1822990454675149228

 

[Matt Dillon]

https://twitter.com/x/status/1822990454675149228

Looks like a buy!

 

[T. A. Gardner]

Cisco's next...

https://www.cnn.com/2024/02/14/business/cisco-to-lay-off-thousands/index.html

I guess that's what happens when you fund your company with taxpayer money...

 

[Into the Night]

These fucking right-wing droolers are the real problem in this country.

YOU CANNOT BLAME THE LAST FOUR YEARS ON TRUMP!

 

[Into the Night]

Cisco's next...

https://www.cnn.com/2024/02/14/business/cisco-to-lay-off-thousands/index.html

I guess that's what happens when you fund your company with taxpayer money...

It's also what happens when investors lose faith in high tech companies and the direction they are going. Much of this is fallout from stock investors bailing out of high tech, and reinforced by the realization of the general economic depression currently in progress.

 

[T. A. Gardner]

It's also what happens when investors lose faith in high tech companies and the direction they are going. Much of this is fallout from stock investors bailing out of high tech, and reinforced by the realization of the general economic depression currently in progress.

Nothing seems to kill a corporation faster these days than some DIE policies and hiring...