Mobileye, the crown jewel of Intel\u2019s 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.”<\/p>\n
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\u2019re 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.<\/p>\n","protected":false},"excerpt":{"rendered":"
Mobileye, the crown jewel of Intel\u2019s 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 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"footnotes":""},"categories":[82],"tags":[169],"class_list":{"0":"post-4348","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-layoffs","7":"tag-mobileye"},"acf":{"sources":[{"author":"Sophie Shulman","publication":"CTech","icon":4349,"url":"https:\/\/www.calcalistech.com\/ctechnews\/article\/hjznnzvzzl","article_title":"Mobileye lays off 200 employees; Company's shares down more than 40% this year"}]},"_links":{"self":[{"href":"https:\/\/www.profitless.com\/index.php?rest_route=\/wp\/v2\/posts\/4348","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.profitless.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.profitless.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.profitless.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.profitless.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4348"}],"version-history":[{"count":1,"href":"https:\/\/www.profitless.com\/index.php?rest_route=\/wp\/v2\/posts\/4348\/revisions"}],"predecessor-version":[{"id":4350,"href":"https:\/\/www.profitless.com\/index.php?rest_route=\/wp\/v2\/posts\/4348\/revisions\/4350"}],"wp:attachment":[{"href":"https:\/\/www.profitless.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.profitless.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.profitless.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}