US EditionIntel announces plan to cut 15,000 jobs to ‘resize and refocus’ business
- Intel Corp. will cut 15% of its workforce, approximately 15,000 jobs, to compete with rivals Nvidia and AMD.
- This decision is part of a $10 billion plan to reduce costs, announced during its second-quarter earnings.
- Intel also reported a second-quarter loss and forecasted third-quarter revenues below Wall Street expectations.
120 Articles
120 Articles
Intel Is Laying Off 15,000 Employees
After a poor performance in Q2, Intel has decided to layoff 15,000 employees by the end of 2024. The chipmaker endures a financial crisis. Credit: Khlnmusa/Wikimedia Commons/ CC BY-SA 3.0 Intel just announced a historic layoff of 15,000 employees, downsizing its workforce by over 15 percent. This measure comes as part of the $10 billion cost-saving plan CEO Pat Gelsinger is implementing for 2025. The plan behind Intel’s employee layoffs is not e…
Intel, the renowned manufacturer of microprocessors and integrated circuits, announced last Thursday that it will cut approximately 15,000 jobs, representing 15% of its workforce. This decision is part of an adjustment plan designed to optimize operations and reduce costs, as detailed by the company in its official statement. Financial impact in the second quarter “Most of these measures will be completed by the end of this year,” CEO Pat Gelsin…
Intel to cut 15,000 jobs after ‘disappointing’ second quarter results
Intel plans to cut 15,000 jobs, or about 15 percent of its workforce, CEO Pat Gelsinger said in a note to employees Thursday. The mass layoffs come amid an effort to deliver $10 billion in cost savings in 2025, after the chipmaker posted “disappointing” second quarter results. “This is painful news for me to share,”…
Intel, the processor giant, which has around 110,000 employees, announced that it will lay off 15% of its workforce. In addition, it will suspend the payment of dividends to shareholders as of the fourth...
15,000 Intel job cuts; Apple and Microsoft key factors in the decline
Some 15,000 Intel job cuts have been announced by the company, as it implements a $10B cost-reduction program to try to resolve its financial difficulties. Intel CEO Pat Gelsinger told employees that revenues have not grown in the way the company hoped, with a belated acceptance that Apple’s Mac business is gone forever one likely factor in that reality-check … more…
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