The chipmaker, which has fallen behind competitors, is slashing 15 percent of its workforce.
In a move likely to raise a few taxpayer eyebrows, Intel said today that it will cut 15 percent of its workforce, or more than 15,000 jobs, as it struggles to rebound from disappointing results. In March, the US government said it would give Intel no less than $8.5 billion to help it rebuild its US chipmaking operations.
Intel said that its revenues were down 1 percent year-on-year for the second quarter. “We do not take this lightly, and we have carefully considered the impact this will have on the Intel family,” CEO Pat Gelsinger said on an earnings call today. “These are hard, but necessary decisions. These reductions do not impact our ability to execute our plan."
...read more at wired.com
Most jobs are fake and gay. Learn to farm chickens and live off the land.
Companies dont care about their employees. They will cut them whenever it harms their profit margin. You need to look out for yourself.
CEOs like this are not human: they have absolutely no empathy.
They dont care about the people actually doing the work.
Intel has a ton of redundancy and way too many pet projects. I’m sure there will be many skilled positions cut, but there’s a lot of fat there too. This move is probably 5 years late tbh.
It is an example of how large companies only benefit from their workers and then fire them as if nothing happened, leaving them to their fate.