Unfortunately, this is not a rumor - the chip maker confirmed its plans to cut 12,000 jobs "by mid-2017."
http://www.notebookcheck.net/Intel-to-lay-off-11-percent-of-its-employees.164014.0.html
Hmmm.... I thought it was good practice to keep some stash aside in good times to be used in bad times. But I suspect that only applies to small companies as the big players can divide the cash among their club when things go well and just dump their (lower-class) employees when times go bad.
I would have thought that these guys earned at least more than enough dough, the last few decades, to sustain the jobs and welfare of their workforce. I guess I was wrong.
And so the rich get filthy rich and poor get... sacked.