You have heard about ideas like rent control, higher minimum wage to put a floor on downside pay, now pay cut to put a cap on upside, between the two end points Intel can bound the wage gap. Someone forgot to tell Intel the wage gap to fix was between average joe salary and CEO pay not gr 7 worker bee's pay who is spilling their guts out to do their job. Instead of getting rid of the unproductive fat, they are resorting to keeping the same headcount and moving on with an overloaded ship already low on fuel. That should do wonders to the morale of productive folks with 7% inflation, -5% pay cut, and no hope that the unproductive parts will ever be affected by induction (if they are not with these earnings, they probably would not be in future until the ship sinks).
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You are clueless. Socialism is "the ownership of means of production by the worker class"
What we have here is capitalism which is "ownership of the means of production by the capitalist class"
This is capitalism in action my friend. The capitalist owners and ELT of Intel are cutting costs and imposing austerity on the workers without the worker's agreement.
Please educate yourself and become aware of class struggles. I know you are disgruntled but please educate yourself.
More than likely I’m thinking it’s a condition of taking the CHIPS act money to have no layoffs. Just spitballing here.
People always say get rid of the unproductive fat and you are probably an unproductive fat. How rent contol is an isssue on job layoff board
Soviet reunion