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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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There’s a dude in wallstreetbets who dumped a $700k inheritance into Intel stocks. lol
Layoffs will make the stock go up. It's bizarre.
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.
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.