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.

  • @[email protected]English
    65•4 months ago

    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 💰?

    • @[email protected]English
      54•4 months ago

      The US and Europe has become acutely aware that too much semi-conductor manufacturing has been outsourced to China and other Asian nations and they’re trying to build some back domestically. So that’s the geopolitical reason for it.

      • Todd BonzalezEnglish
        7•4 months ago

        Maybe the US should consider Intel’s massive reduction in staff and faulty chips as a national security threat and nationalize them.

      • @[email protected]English
        0•4 months ago

        That’s the justification. Don’t you know what kind of people gets into high governmental positions?

        Making some friends rich was the reason.

        Still, this sucks huge donkey balls, a lot of very smart and very knowledgeable people, maybe more valuable than a 100 (ok, maybe 10, or maybe 5, it’s a rhetorical device) copies of me, work in such inefficient structures, while there could have been a dozen TSMCs over the world with their competencies.

        I have come to agree that nations have interests, but their governmental structures generally work against those. There’s a wheel to be invented there.

      • @[email protected]English
        -1•4 months ago

        I’m not sure what this has to do “Not sure why Biden didn’t put any terms and conditions on giving away all this money 💰?”. Wait, I do. This is question exactly why Biden didn’t put condition of bringing production back.

        - Russian troll, according to some.

    • @[email protected]English
      36•4 months ago

      $20 billion investment that will generate 3,000 jobs

      Lol that’s $6,666,667 per job. I could create a job with that much money: counting all my fucking money.

      • @[email protected]English
        11•4 months ago

        Actually, yeah, one can pick 3k people and just pay them 4k$ per month indefinitely till they die and something will remain.

    • @[email protected]English
      21•4 months ago

      These corps are slimy Fucks. It probably did create 3k jobs. Low paying, temporary jobs. These layoffs are probably other jobs

    • Dark ArcEnglish
      6•4 months ago

      The string is that they use it for the creation of a domestic chip plant, not salaries for existing employees.