https://www.fudzilla.com/news/61826-no-quick-way-back-for-intel
"The wider message from Haas was clear: once you’re late in the semiconductor business, there’s no catching up. Intel’s challenge is not just technological but cultural. Haas noted that manufacturing in the West is often seen as blue-collar, low-status work, in Taiwan, a job at TSMC is viewed as prestigious and well-paid."
Couple of decades back Intel was the holy land for young graduates specializing in semiconductors in Universities. Now its reputation as a toxic culture has spread and nobody wants to work for the loser company as their first choice. Not that they are hiring now but how are they going to get out of this mess by just layoffs and not hiring the best and brightest?
oh my "working for TSMC is prestigious"
ARM CEO Rene Haas criticized Intel’s long struggle to catch up with TSMC, arguing that the company’s slow adoption of extreme ultraviolet (EUV) technology and failure to enter the mobile chip market cost it its leadership position. He said Intel’s missteps, including rejecting Apple’s request for iPhone chips and underinvesting in EUV a decade ago, left it far behind rivals like Apple, Nvidia, and AMD, which now rely on TSMC’s superior fabs. Haas added that Intel’s problems go beyond technology, noting that Western attitudes toward manufacturing as low-status contrast with Taiwan’s culture, where working for TSMC is prestigious. Overall, he suggested Intel faces a steep, possibly insurmountable, path back to industry leadership.