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.

  • UnderpantsWeevil@lemmy.worldEnglish
    1·
    4 months ago

    So what I’m getting here is that the CEO and or the board decided to invest in something that is losing a ton of money

    Intel has an enormous technical debt that they’re finally struggling to pay back after they hit a brick wall with their 7nm Titanium chipset.

    It isn’t that this is wasteful spending so much as it is big upfront costs for future productive development.

    That said, the fact that this work has to be government subsidized in order to be done raises the question of why this business is private at all.