Mobileye

Mobileye, the crown jewel of Intel’s garage sale, is trimming another 200 employees from the payroll. Despite actually beating revenue expectations recently, stock of the robotaxi maker is still in a down nearly 27% over the last year. Management is calling this a “strategic adjustment,” which is the PR way of saying “we need to make the balance sheet look pretty before Intel dumps another billion-dollar chunk of us.”

After already killing off their LiDAR and Lane Departure units over the last two years, this latest round of layoffs equates to around 4% of global staff. But don’t worry, the suits say they’re still “recruiting for positions required to realize long-term plans.” Translation: We’re firing the expensive veterans today so we can hire cheaper replacements tomorrow. If you’re currently drawing a paycheck at the Mobileye campus, keep your resume on a thumb drive and your eyes on the door, because the most reliable “autonomous” driving from this company is its stock going off a cliff.