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Can someone familiar with Arizona law explain why this wasn’t covered by Worker’s Comp?
Employer negligence is not covered by workers' comp.
That’s exactly what WC covers.
It's shocking that such a dangerous system can't detect that a probe is not installed.
Intel have well-documented processes:

Page 1: Chemical alarms keep going off, remove them

Completely apart from whether they did the right thing before the accident, I was boggled by the disconnect in the language used by Intel, even though I know it's just standard corporate speak on autopilot:

"Intel has a well-known safety culture and the safety and well-being of our workforce is our top priority...We are disappointed in this decision"

How can the last sentence coexist with the first sentence? I mean, they don't have to fight over a few hundred thousand if they want to leave the impression they care about health and safety at all. Negligence is one thing; the response to mistakes is another.

And no, they don't owe it to the stockholders.