US EditionIntel to cut 15% of workers as chipmaker grapples with manufacturing challenges
UNITED STATES, JUL 25 – Intel plans to reduce its workforce to about 75,000 by year-end and halt key factory projects in Europe and the US to better match chip production with market demand.
- On Thursday, Intel announced eliminating more than 15,000 jobs, workforce stood at 96,400 at the end of June.
- Competition from Nvidia and AMD weakened Intel, prompting restructuring as underperformance in AI chips and PC semiconductors gained ground.
- CFO David Zinsner said management layers were halved, restructuring costs reached $1.9 billion.
- By year-end, Intel will reduce headcount and reshuffle factories, with staff falling to about 75,000, as it consolidates packaging and halts factory builds in Ohio, Poland, and Germany.
- Intel expects about $17 billion in savings and may exit advanced manufacturing without external 14A customers.
228 Articles
228 Articles
Intel technology announced this Friday that it will fire 15% of its workforce and cancel its expansion to Europe, where it planned to invest several AI chip projects.According to the company, the reduction of personnel is aimed at creating a faster and more agile organization, as stated in its second quarter results report.The change of strategy is one of the first important decisions taken by its new executive director, Lip-Bu Tan, according to…
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