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.

  • corsicanguppyEnglish
    171·
    2 months ago

    Layoffs will make the stock go up. It’s bizarre.

    • ChickenLadyLovesLife@lemmy.worldEnglish
      121·
      2 months ago

      My experiences working for huge corporations have made it clear what an enormous percentage of corporate workers spend all their time on useless busy work, so in theory layoffs can make a corporation more profitable. The problem is that it’s rarely the useless ass-kissers who get laid off.

      • jj4211@lemmy.worldEnglish
        4·
        2 months ago

        Yeah, my team has gotten cut and the end result is one management type person per person actually doing anything… They are “managing” teams of one each, effectively…

        EDIT: To make it clear, I’m not an Intel guy, just commenting on an ‘Intel-like’ company behavior with respect to being stupid about layoffs.

      • tempestEnglish
        4·
        2 months ago

        If the bureaucracy could easily identify the dead weight projects it wouldn’t need the layoffs but that also means it can’t make good choices when doing layoffs.

        It’s like chemotherapy.

      • pufferfisherpowder@lemmy.worldEnglish
        2·
        2 months ago

        I just started a corporate job a while ago and they still can’t really tell me what I’ll be doing. My onboarding plan suggests that in month 2-3 I’ll be ready to get into it. Like, dude, wtf?