Technology

58115 readers

4097 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

[email protected]

1129

Intel is laying off over 15,000 employees and will stop ‘non-essential work’ (www.theverge.com)

submitted 1 month ago by [email protected] to c/[email protected]

239 comments fedilink hide all child comments

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.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 109 points 1 month ago (12 children)

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.

[–] [email protected] 27 points 1 month ago (3 children)

That's definitely a huge issue but they're going to have a hell of a time on the overcooked processors on the market right now. They've sold a hell of a lot of defective product over the past couple of years. Consumers and third parties are going to come after them for refunds. Consumer confidence is way down. They're going to have a hell of a time trying to sell 15th gen to people. Everyone I know who knows what in the hell is going on is going to AMD.

[–] [email protected] 1 points 1 month ago

You have a hell of a love for that phrase!

load more comments (2 replies)

load more comments (10 replies)