They will reduce headcount by 12k and see profits increase by $300m per quarter. The world will not collapse since a manufacturing company like Intel has a lag between revenue and expenses when R&D is cut. They will start another round shortly.
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Yes, another round of when projects fall behind and then they start hiring expensive green badges to hit their ever slipping deadlines, then start hiring blue badges to take over the green's tasks, finally back to layoffs. Seen it over and over... same as it ever was...