It's a "dumb" article, but your reasoning is inline with it.
The problem with many of your "unneeded workers" is that when they become needed you can't flip the switch and they'll appear grateful for the bread you throw at them.
See service industry after the Pandemic, now extrapolate for highly technical jobs ( even the sales ones ). And also it's not like these people have gold fish memory, they remember, and adjust accordingly.
On the other side, Intel can't/shouldn't simply cancel the dividends because those 1.5B "saved" would cost them multiples of that since investors wouldn't buy their stock and many would sell - cutting their already big losses - So for Intel, capital would come only from the banks and the rates aren't exactly 0% now..
This is yet another example how Intel "star" execs ( and the board ) should have been competent 10 years ago instead of riding the wave. Now Intel is in a very tough position and it's really "no ones fault" of those who are there now.
The problem with many of your "unneeded workers" is that when they become needed you can't flip the switch and they'll appear grateful for the bread you throw at them.
See service industry after the Pandemic, now extrapolate for highly technical jobs ( even the sales ones ). And also it's not like these people have gold fish memory, they remember, and adjust accordingly.
On the other side, Intel can't/shouldn't simply cancel the dividends because those 1.5B "saved" would cost them multiples of that since investors wouldn't buy their stock and many would sell - cutting their already big losses - So for Intel, capital would come only from the banks and the rates aren't exactly 0% now..
This is yet another example how Intel "star" execs ( and the board ) should have been competent 10 years ago instead of riding the wave. Now Intel is in a very tough position and it's really "no ones fault" of those who are there now.