Why Are Tech Companies Laying Off So Many Workers?

forbes.com

2 pointselorant3 comments

Look at what was just passed months ago, the Chips Act, now ask why companies like Intel get to keep the billions they were given.

Two article may shed some light.

https://www.washingtonexaminer.com/policy/technology/intel-l...

https://time.com/6222411/intel-layoffs-chips-act/

> why companies like Intel get to keep the billions they were given

Intel wasn’t given billions. It got capital expenditure incentives. It makes sense to lay off in one group while you focus on a less labor-intensive one.

TLDR; because they hired so many during the pandemic and are afraid they are overstaffed as the economy dives deeper into recession.

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