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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 [email protected] to c/[email protected]

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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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[–] [email protected] 0 points 3 months ago (2 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 💰?

[–] [email protected] 0 points 3 months ago (1 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.

[–] [email protected] 1 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.

[–] [email protected] -1 points 3 months ago

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