Intel to Cut Thousands of Jobs to Reduce Costs, Fund Rebound

This is half correct, imo. America is 're-industrializing'. However, that doesn't mean that we are going to be major producers or actually produce what we consume (obviously), due to Wall Street. What it does mean is that the job market will continue to shift our economy from a sizeable petite-bourgious class and large service sectors, towards more easily value extracted jobs whose labor value extraction efficiency is multiplied by robotics. We won't make or design actually high-tech things, but we will make over engineered things we can throw through a mostly automated process. Even if there is more value in stock market games and assets, the only way to consistently accumulate that wealth to play with if you don't have it is through industry, so there will always be people gambling on it. Not the smartest people, but people who can throw away billions on failed capital vestment.

Intel is facing the same problems many tech giants have before it, 'over-hiring' (by capitalist standards) to rush a shit product line due to rushed scheduling on design and production and a general degradation in quality practices all around. This obviously isn't going to be fixed by Intel, but they will do the usual stock buy-back, firing then rehiring rigamarole they usually do.

and then immediately use it for stock buybacks