“Gets the workers it needs” Clearly it doesn’t, since Intel couldn’t even save itself during a chip shortage when prices were sky high. They’re getting smoked by AMD and TSMC, in terminal decline much like the mismanaged Motorola of old. It certainly doesn’t have the leadership it needed, so if anyone should have their pay cut, it’s the fat cats at the top who financialized the company a la GE and ran it into the ground.

Sounds like the mistakes in those regard were bad strategic decisions not inability to attract talent.

They're related problems, but yes, I would lay most of the blame at the VP level and above.