Intel (INTC) Ought To Have Thought Twice Before Accepting A Taxpayer-Funded Grant
Intel CEO Pat Gelsinger ought to resign. It is a bad look to accept a Federal Government / Taxpayer grant in the first place. The $8.5 Billion Taxpayer grant was to provide in part for 10,000 jobs, yet 4 months later INTC plans to create $10 Billion in savings by way of cutting 15,000 jobs. This is an awful look for INTC CEO Pat Gelsinger and INTC’s Board. If INTC’s Board is worth its salt it will remove Mr. Gelsinger and pay back the Taxpayer grant.
