This poor fellow had to take one for the team...
https://twitter.com/HawleyMO/status/1833626148636328002
... while Pat Gelsinger got to flex at the State of the Union speech in March 2022...
https://www.cnbc.com/2022/03/02/why-intels-ceo-was-a-guest-at-bidens-state-of-the-union-address.html
So effing hilarious haha
Founding slave labors in China?
This kind of incompetent leaders at every level is the root cause of Intel situation
Elon was asked how he managed to cut 75% of the heads at Twitter and keep it operating just fine...
his response, 'as it turns out, you just don't need as many people to run a company as you think'.
what a mess...
and after Intel cuts the heads and sells or spins out any non-core business like Mobileye it very well still may be forced to go back to the government to get a bail out to chop the company in half and fund advanced manufacturing critical to the national security of the country....
Too painful to watch
Laying off while having just posted 800 job ads in the San Jose newspaper this weekend. These are 800 PERM Ads being used to sponsor 800 green cards while pushing out American workers
Most people thought the bone headed spending by Obama government ($2B in losses) on Solar investments would never be outdone...
Biden/Harris/Gelsinger Chips Act will easily torch 10X that... a nice litter kicker to the $37T in debt for the US.... driving us closer to the brink of the financial abyss.
@xav No, it's really not.
Sen. Hawley, "You're laying off 15,000 people?
Jeff Rittener, "to ensure that Intel is operating efficiently, we are laying off 15,000 people".
Gelsinger made $11.6M in 2022, now he's making $17M? Is that an efficiency?
Jeff Rittener, "I, I, I'm not, I'm not uh, an expert on his salary".
Sen. Hawley, "yeah, well you don't appear to be an expert on much".
Bloomberg reporting that the government hasn't released any Chips Act funds to Intel yet... the pressure has to be immense on the CEO. Two years ago he pulled off the mother of all government grifts and was ramping headcount like crazy...
Now he is cutting heads, taking a big pay raise and the government has egg all over it's face. Brilliant.
Ouch … it’s a bit more complicated than that - but a good ambush !