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Intel is laying off over 15,000 employees and will stop ‘non-essential work’
(www.theverge.com)
this post was submitted on 01 Aug 2024
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Intel is a failing company and has been for years, it has nothing to do with the tech industry. They failed to invest in chip fabrication, and their designs are soundly beaten by AMD and Nvidia. Look at AMD and Nvidia, they're making record profits and hiring.
Also, the tech industry is a huge place, there are plenty of opportunities outside of the hardware niche that Intel operates in. I will admit though that the current interest rates and risk of recession does make it harder for junior programmers.
They are doubling down on that mistake it would seem. Article says most of their losses last month were from their foundry division. I realize I'm just a random person on the ground, but shit like this really has me shaking my head. For a company like Intel foundry is absolutely essential to their business. If they can't build the chips, build them better, faster, smaller, they can't compete. It's like if Airbus said they are firing everybody in their airplane division to focus on important things. What the hell, the airplane is the important thing. Same thing with Intel.
Seems like a great time to buy stock in AMD.
Yup. A better simile is Boeing. Quality don’t matter if cutting it makes number go up. Oops.
Well it's cannibalizing the company. You're absolutely right about Boeing.
HP was another example. Fire all the engineers and R&D types, rush whatever's already in the pipeline into production. You get a couple of fantastic quarters because you have new products without the R&D costs. But then you run out of new products in the pipeline and everything goes to shit because you killed your golden goose.
I will always say, "Fuck Carly Fiorina" for ruining the finest company in the engineering world.
Absolutely. What she did to HP was almost criminal.
HP, Boeing, Intel (twice now)...