That’s a lot of layoffs.

So they got all that money from Uncle Sam’s CHIPS Act only to lay off 10,000 employees and make themselves “lean”. Govt funded unemployment.

  • arc@lemm.eeEnglish
    562·
    3 months ago

    The US and Europe has become acutely aware that too much semi-conductor manufacturing has been outsourced to China and other Asian nations and they’re trying to build some back domestically. So that’s the geopolitical reason for it.

    • Todd Bonzalez@lemm.eeEnglish
      92·
      3 months ago

      Maybe the US should consider Intel’s massive reduction in staff and faulty chips as a national security threat and nationalize them.

    • rottingleaf@lemmy.worldEnglish
      45·
      3 months ago

      That’s the justification. Don’t you know what kind of people gets into high governmental positions?

      Making some friends rich was the reason.

      Still, this sucks huge donkey balls, a lot of very smart and very knowledgeable people, maybe more valuable than a 100 (ok, maybe 10, or maybe 5, it’s a rhetorical device) copies of me, work in such inefficient structures, while there could have been a dozen TSMCs over the world with their competencies.

      I have come to agree that nations have interests, but their governmental structures generally work against those. There’s a wheel to be invented there.

    • uis@lemm.eeEnglish
      23·
      3 months ago

      I’m not sure what this has to do “Not sure why Biden didn’t put any terms and conditions on giving away all this money 💰?”. Wait, I do. This is question exactly why Biden didn’t put condition of bringing production back.

      - Russian troll, according to some.