Intel plans to cut thousands of jobs, aiming to reduce annual costs by $3bn in 2023.
Intel plans to cut thousands of jobs, as it faces growing demand for chips used in AI applications and struggles to maintain its market position. The company is aiming to reduce annual costs by $3bn in 2023, with CEO Pat Gelsinger initiating a turnaround plan to revitalize manufacturing capabilities, invest in advanced chip technologies, and expand into new markets. Last year, Intel announced a cost-reduction plan that included workforce reductions, aiming to cut its headcount to 124,800 by the end of 2023.
July 30, 2024
21 Articles