Technology

Prepping for all those spicy class action lawsuits coming their way.

Two generations of bad cpu's and their solution is get rid of the workers so they can keep their bonuses.

You know they pocket those subsidies when this happens.

stop 'non-essential' work

So those jobs they're cutting start with everyone with "Chief" in their title, right?

What’s crazy to me is that they are laying off more employees than the total number of full time employees I’ve worked at for most companies.

They are laying off 12% of their work force.

While Intel has absolutely been losing money on its chipmaking Foundry business as it invests in new factories and extreme ultraviolet (EUV) lithography, to the tune of $7 billion in operating losses in 2023 and another $2.8 billion this quarter, the company’s products themselves aren’t unprofitable.

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 and so now 15% or more of the people who have been working diligently to actually make the company money are going to pay for it by losing their job.

Several tech companies have really stopped giving a shit lately. Intuit laid off a ton of people and referred to them as "not meeting expectations", and Intel's laid-off folks are now all apparently working on non-essential stuff.

Imagine losing your job and being told second-hand after you'd been shown the door that you were shit.

Fuck these companies.

they fired the guy that single handedly managed meshcommander https://github.com/Ylianst/MeshCommander

it was a tool to remotely control intel vpro machines, intel's own tool is not as good as what the old ex-employee did in his free time

I wonder how many of the over 1000 VPs will get canned. You read that right. I worked there at the beginning of my career. I know a lot of people who are now VPs. Only one of them was actually any good. One guy couldn't even manage his own staff meetings when he was a first line manager. Nice guy, not dumb or anything, but not brilliant, and a terrible organizer.

Publicly traded companies are a curse on humanity.

It's a good thing we gave them BILLIONS of Taxpayer Dollars! Otherwise they would have Laid Off Employees! Anyways we don't have enough money in the Budget to Feed Starving American 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 💰?

There’s a dude in wallstreetbets who dumped a $700k inheritance into Intel stocks. lol

So they're only keeping marketing?

Probably just keeping the staff needed to replace all the 13th and 14th gen CPUs.

Didn't expect CHIPS to backfire this fast lol.

As a 30-year-old trying to break out into a tech career, this is incredibly disheartening.
Really difficult to not give up all hope with headlines like these. How to believe in potentials for opportunities with these barrages of bad news? Where is the hope--Any silver linings at all?

I guess Intel needed that QA team, after all.

Non essential work, oh dear Product and Project managers, where are you gonna stand in the way of good products next?

The money needs to return to the government. Some wealthy fucks are lining their pockets.

What the actual fuck

There's no corporate death penalty, but there is corporate death from alcoholism, coke overdose and syphilis.

I mean, you do a TRAFU and instead of firing those logically responsible for it you fire your actual troops.

This basically means they failed to find scapegoats inside the company who wouldn't be management themselves.

Wow.