US Edition
Intel 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 dominated by Nvidia and PC semiconductors where AMD gained ground.
- According to Reuters, management layers were halved, restructuring costs reached $1.9 billion, CFO David Zinsner said.
- By year-end, Intel will reduce headcount and reshuffle factories, as staffing will fall to about 75,000, with consolidation and factory slowdowns in Ohio, Poland, and Germany.
- Intel forecasts about $17 billion in savings and may exit advanced manufacturing without external 14A customers.
240 Articles
240 Articles
The giant Intel semiconductor is preparing for a deep restructuring, with mass shipments and the cancellation of expansion projects in Europe. These measures, led by the Lip-Bu Tan Executive Director, are seeking to reverse their...
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