the verge Intel is laying off over 15,000 employees and will stop ‘non-essential work’

[ENTERPRISE]

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Intel’s on a long, long road to recovery, and over 15,000 workers will no longer be coming along for the ride. The chipmaker just announced it’s downsizing its workforce by over 15 percent as part of a new $10 billion cost savings plan for 2025, which will mean a headcount reduction of greater than 15,000 roles, Intel tells The Verge. The company currently employs over 125,000 workers, so layoffs could be as many as 19,000 people.

 

Intel will reduce its R&D and marketing spend by billions each year through 2026; it will reduce capital expenditures by more than 20 percent this year; it will restructure to “stop non-essential work,” and it’ll review “all active projects and equipment” to make sure it’s not spending too much.

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Tough times for Intel it seems. 

[Sir Beregond]

  On 03/08/2024 at 18:50, ENTERPRISE said:

Source 

 

Tough times for Intel it seems. 

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Makes sense. They have been going on thinking they are still the Intel of 2011 or so for far too long.  Reality is that they've now had many years of just blunder after blunder and the bottomless pit of money actually has a bottom.

 

Google search suggests AMD has around 26,000 employees. Intel has 130,000? Clearly a bloated company at this point. You can't be five times the size of AMD and only make about twice the revenue. Time they focus on righting the ship and facing reality. It isn't "market conditions" - Intel is fast losing marketshare to AMD, mindshare with many customer bases, and has had too many blunders in recent history whether the struggles to get to 10nm (Intel 7 now), the struggles they have recently uncovered with 13th / 14th gen and other things. And of course there is the company culture and other things standing in the way as well.

 

Really hope Intel gets their act together.

Edited August 10, 2024 by Sir Beregond
Fixed numbers

[UltraMega]

I wonder if they might feel the need to free up some cash to cover the cost of the 13th/14th gen CPU issues. 

[ENTERPRISE]

I for one hope they don't consider their dedicated GPU division as "bloat". 

 

We need GPU competition and they have made great progress with Arc. 

 

Would be a shame if they scrap it 

[Slaughtahouse]

Intel hit with lawsuit over $32 billion loss, shareholders complain company hid problems | Tom's Hardware

WWW.TOMSHARDWARE.COM

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Was Intel hiding its big problems all along?

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Intel shareholders are suing the company in the wake of its share price rapidly plummeting. The legal action comes days after Intel announced the suspension of dividends and the planned layoff of over 15,000 employees. At its worst, this share price drop wiped over $32 billion off Intel's market value in a single day.

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[ENTERPRISE]

  On 09/08/2024 at 01:05, Slaughtahouse said:

Intel hit with lawsuit over $32 billion loss, shareholders complain company hid problems | Tom's Hardware

WWW.TOMSHARDWARE.COM

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Was Intel hiding its big problems all along?

 

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Yowzer. They had to see this coming though. Frankly this is wjat happens when you are covering something up. If they had been up front about the issue in 2022 the pain for all concerned would be much less.