The economy is doing just fine (and other lies they tell us)

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From the New York Times:

Intel to Cut 12,000 Jobs as PC Demand Slumps
Intel, reeling from a collapse in demand for personal computers, said on Tuesday that it would cut 12,000 jobs, about 11 percent of its work force.

The company, the world’s largest maker of semiconductors, announced the move along with its first-quarter earnings, which were slightly below analysts’ expectations.

Brian Krzanich, Intel’s chief executive, said the job cuts were part of an overall strategy to move Intel from a company that depends on revenue primarily from PC chips to one that supplies semiconductors for smartphones, sensors, cloud computing and other devices.

And all the new hires will be immigrants with H1 visas - the people being fired are probably over 40 years old - trying to get a job at that age is next to impossible despite the fact that these are the best trained people in the business.

America is going down the tubes fast if we do not stop the crony capitalism and get back to the free market.

Also - 1,000 people being let go: Twin Rivers informs employees of closing

And this - another $15 minimum wage victory - UC Berkeley Forced to Cut 500 Jobs After $15 Minimum Wage Hike

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This page contains a single entry by DaveH published on April 19, 2016 4:31 PM.

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