For decades, Intel hired and hired anyone who was breathing; minorities- barely even that. Then came lay offs followed by brain drain.
To prevent brain drain, intel is now handing out principle engr/director/manager titles to a lot of people :)
Most 'principle engrs' in Intel are laughable and most directors/managers are clowns!
One more popular feel-good and popular title at Intel is "advisor to VP". HA!
Good companies hire a small set of good guys, pay them more and keep them rather than hire a lot, fire a lot and lose a lot to attrition.