3 ms·

The U.S. Said It’d Give Billions to Chipmakers Like Intel. Now Come the Layoffs

34 points by galaxyLogic 4y ago

newaccount2021 4y ago
rekttrader 4y ago
It’s because the motivations of corporate America are about shareholder returns not just the jobs and products made. This is just a maximization of profit, while getting corporate welfare. Example: starlink/Ukraine
kennend3 4y ago
My personal fav when I see stories like this is the lengths these companies go to in order to avoid paying taxes... then are the first with their hands out for tax-dollars? Intel - If taxes are so bad that you need to use Ireland, etc to avoid paying them.. why do you accept them? Privatized profits and socialized losses at its finest.
throwaway5959 4y ago
> The move also puts Intel chief executive Pat Gelsinger—who received a $179 million compensation package last year—in a difficult position. $9000 per laid off employee.
- kennend3 4y ago
  In almost every case of "corporate welfare" the taxpayers would have been better off supporting the workers instead. This idea of corporate welfare to help the company out rarely works long term and is getting worse and worse. We now have companies shopping around for welfare packages and putting one province/state against another to see who will come up with the most tax incentives. Businesses are supposed to bring jobs and taxes to an area, not using taxes to bring businesses to an area. Look at when the company receives massive rebates/tax incentives for job commitments, yet fails to make the commitments, what punishment do they face?
  - nullish_signal 4y ago
    "Wonder, Cunning, Toil, then Anger" An Ode to Never Trusting a Gilded Stranger!
  - galaxyLogic 4y ago
    There is an element of national security involved here. Currently the best chips come from Taiwan, and China claims Taiwan is part of China. In the future wars will be fought with robot-soldiers. The robot with the fastest chips will be the smartest of them all.

3 ms·

The U.S. Said It’d Give Billions to Chipmakers Like Intel. Now Come the Layoffs

34 points by galaxyLogic 4y ago

newaccount2021 4y ago
rekttrader 4y ago
It’s because the motivations of corporate America are about shareholder returns not just the jobs and products made. This is just a maximization of profit, while getting corporate welfare. Example: starlink/Ukraine
kennend3 4y ago
My personal fav when I see stories like this is the lengths these companies go to in order to avoid paying taxes... then are the first with their hands out for tax-dollars? Intel - If taxes are so bad that you need to use Ireland, etc to avoid paying them.. why do you accept them? Privatized profits and socialized losses at its finest.
throwaway5959 4y ago
> The move also puts Intel chief executive Pat Gelsinger—who received a $179 million compensation package last year—in a difficult position. $9000 per laid off employee.
- kennend3 4y ago
  In almost every case of "corporate welfare" the taxpayers would have been better off supporting the workers instead. This idea of corporate welfare to help the company out rarely works long term and is getting worse and worse. We now have companies shopping around for welfare packages and putting one province/state against another to see who will come up with the most tax incentives. Businesses are supposed to bring jobs and taxes to an area, not using taxes to bring businesses to an area. Look at when the company receives massive rebates/tax incentives for job commitments, yet fails to make the commitments, what punishment do they face?
  - nullish_signal 4y ago
    "Wonder, Cunning, Toil, then Anger" An Ode to Never Trusting a Gilded Stranger!
  - galaxyLogic 4y ago
    There is an element of national security involved here. Currently the best chips come from Taiwan, and China claims Taiwan is part of China. In the future wars will be fought with robot-soldiers. The robot with the fastest chips will be the smartest of them all.