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.

  • mannycalavera@feddit.ukEnglish
    663·
    3 months ago

    In January 2022, Intel announced an initial $20 billion investment that will generate 3,000 jobs,

    Not sure why Biden didn’t put any terms and conditions on giving away all this money 💰?

    • arc@lemm.eeEnglish
      531·
      3 months ago

      The US and Europe has become acutely aware that too much semi-conductor manufacturing has been outsourced to China and other Asian nations and they’re trying to build some back domestically. So that’s the geopolitical reason for it.

      • Todd Bonzalez@lemm.eeEnglish
        82·
        3 months ago

        Maybe the US should consider Intel’s massive reduction in staff and faulty chips as a national security threat and nationalize them.

      • rottingleaf@lemmy.worldEnglish
        45·
        3 months ago

        That’s the justification. Don’t you know what kind of people gets into high governmental positions?

        Making some friends rich was the reason.

        Still, this sucks huge donkey balls, a lot of very smart and very knowledgeable people, maybe more valuable than a 100 (ok, maybe 10, or maybe 5, it’s a rhetorical device) copies of me, work in such inefficient structures, while there could have been a dozen TSMCs over the world with their competencies.

        I have come to agree that nations have interests, but their governmental structures generally work against those. There’s a wheel to be invented there.

      • uis@lemm.eeEnglish
        13·
        3 months ago

        I’m not sure what this has to do “Not sure why Biden didn’t put any terms and conditions on giving away all this money 💰?”. Wait, I do. This is question exactly why Biden didn’t put condition of bringing production back.

        - Russian troll, according to some.

    • ChickenLadyLovesLife@lemmy.worldEnglish
      363·
      3 months ago

      $20 billion investment that will generate 3,000 jobs

      Lol that’s $6,666,667 per job. I could create a job with that much money: counting all my fucking money.

      • rottingleaf@lemmy.worldEnglish
        122·
        3 months ago

        Actually, yeah, one can pick 3k people and just pay them 4k$ per month indefinitely till they die and something will remain.

    • GBU_28@lemm.eeEnglish
      211·
      3 months ago

      These corps are slimy Fucks. It probably did create 3k jobs. Low paying, temporary jobs. These layoffs are probably other jobs

    • Dark ArcAEnglish
      71·
      3 months ago

      The string is that they use it for the creation of a domestic chip plant, not salaries for existing employees.