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

submitted 3 months ago by Eezyville@sh.itjust.works to c/technology@lemmy.world

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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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[–] Modern_medicine_isnt@lemmy.world 80 points 3 months ago (4 children)

I wonder how many of the over 1000 VPs will get canned. You read that right. I worked there at the beginning of my career. I know a lot of people who are now VPs. Only one of them was actually any good. One guy couldn't even manage his own staff meetings when he was a first line manager. Nice guy, not dumb or anything, but not brilliant, and a terrible organizer.

[–] Murdoc@sh.itjust.works 33 points 3 months ago (2 children)

Ah yes, the ol' "promoted to the level of their incompetence". SOP. Or SNAFU, take your pick.

[–] lightnegative@lemmy.world 18 points 3 months ago

I hope this never happens to me but based on the Peter Principle I won't know when it happens.

Oh shit maybe it's already happened...

[–] 4z01235@lemmy.world 12 points 3 months ago

https://en.wikipedia.org/wiki/Peter_principle

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