If you think Intel is joking, sadly, it is not.
They are sending workers home without any severance.
Let's go around those headlines, so you see my point.
'Voluntary Unpaid Leave' sounds exciting. I am being heavily sarcastic.
As you can imagine, Intel is playing the game, and sending people home is part of their 'cut cost' plan.
Still, I can bet you all one thing; layoffs won't fix how the company fell behind the curve against other players in the semiconductor space.
CRN does a decent job of describing the structure Intel has in place for those layoffs.
Let's take a look at the headline The Sacramento Bee published yesterday.
This one does make sense because it makes you think about the size of the damage. Honestly, I cannot believe how firing workers is something positive in any universe.
And as expected, while they let go of workers, Intel promises to hire new positions at the Folsom campus sometime in the future.
What a joke!
Meanwhile, Intel does what Corporate America does in 2022; here is today's episode of Viva América:
Basically, investors need to deal with short-term pain.
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Never forget
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