That’s a lot of layoffs.

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.

  • Justin@lemmy.jlh.nameEnglish
    46·
    3 months ago

    Intel is a failing company and has been for years, it has nothing to do with the tech industry. They failed to invest in chip fabrication, and their designs are soundly beaten by AMD and Nvidia. Look at AMD and Nvidia, they’re making record profits and hiring.

    Also, the tech industry is a huge place, there are plenty of opportunities outside of the hardware niche that Intel operates in. I will admit though that the current interest rates and risk of recession does make it harder for junior programmers.

    • SirEDCaLot@lemmy.todayEnglish
      32·
      3 months ago

      They are doubling down on that mistake it would seem. Article says most of their losses last month were from their foundry division. I realize I’m just a random person on the ground, but shit like this really has me shaking my head. For a company like Intel foundry is absolutely essential to their business. If they can’t build the chips, build them better, faster, smaller, they can’t compete. It’s like if Airbus said they are firing everybody in their airplane division to focus on important things. What the hell, the airplane is the important thing. Same thing with Intel.

      Seems like a great time to buy stock in AMD.

      • sudo42@lemmy.worldEnglish
        9·
        3 months ago

        Yup. A better simile is Boeing. Quality don’t matter if cutting it makes number go up. Oops.

        • SirEDCaLot@lemmy.todayEnglish
          3·
          3 months ago

          Well it’s cannibalizing the company. You’re absolutely right about Boeing.

          HP was another example. Fire all the engineers and R&D types, rush whatever’s already in the pipeline into production. You get a couple of fantastic quarters because you have new products without the R&D costs. But then you run out of new products in the pipeline and everything goes to shit because you killed your golden goose.

          • sudo42@lemmy.worldEnglish
            2·
            3 months ago

            I will always say, “Fuck Carly Fiorina” for ruining the finest company in the engineering world.