Intel is laying off over 15,000 employees and will stop ‘non-essential work’
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.
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You know they pocket those subsidies when this happens.
Right to the pockets of the least useful in the company - the executives.
And here's where I say - what does an executive actually do? And someone will inevitably say something asinine about "risk" and "game changing decisions" and "meeting with investors."
It’s always the boot lickers saying they. CEO used to be THE guy in charge. It used to be someone who knew the company and worked their way up. McDonnell Douglas/Boeing used to have engineers in charge. Same with GE. Then Jack Welch came along and destroyed that entire ideology.
He was the one that opened the door to late stage capitalism, at least in the USA. It’s hilarious how these companies piece meal themselves off acting like they did something for short term gain. Meanwhile, the Japanese, Chinese, and European companies are happy to buy all this knowledge as they are still playing the long game rather than the MBA clown show.
The risk bit is self-evidently bullshit. Executives are the last to suffer when things go wrong. They can tank the whole company through greed and incompetence, and still collect their salaries of millions plus even bigger bonuses, before walking into a similar position somewhere else. It's the employees that shoulder the risk.
I'd rather they try and put a random janitor in the CEO seat for a year and see what happens.
Couldn't be any worse than the current shit stain.
what does an executive actually do?
According to conservatives, they trickle all over the rest of us. Isn't that nice of them?
I'm still waiting - mouth wide open, head and hands towards heaven (where it comes from), for the trickle of capitalism to run down my face and enter my mouth.
And here's where I say - what does an executive actually do?
I just see them as a figure head for the people really in charge. We are now focused on dumb ass CEO decisions or announcements instead of the board voting to ship jobs overseas or something else terrible.
If you watch these companies they all want to be tech giants when they have no reason to do so. They hire tech execs from the giants thinking they'll make some great business hybrid withithe help of the tech execs,but you know what? Sometimes a brick is just a brick.
Two things happen, the tech execs lead them on a wild goose chase since they have no idea how to function in a different industry and people get fired, or the CEO is scared and ignores the suggestions to follow the same thing every other company does and people get fired
I'll have you know they deserve that money for doing a job no one else wants! Talking to other executives! /s
That’s…wait. That’s actually a decent point. Imagine being around the scummiest, fakest people in the world 24/7. I couldn’t deal with it.
For a couple hundred million a year i think i could deal with it. For like, one year, and then retire.
They only made 50 billion dollars of profit last year. Won't anybody think of the shareholders
Idk about other subsidies but they're probably not getting any CHIPS Act funds with this sort of behavior.