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In October 2022, Intel announced a cost-reduction plan that included "people actions", aimed at slashing annual costs by $3 billion in 2023, reducing the chipmaker's headcount to 124,800 at the ...
Intel's share price tumbled 26% to $21.48 on Aug. 2, the day after it announced quarterly results, the job cuts and the dividend suspension. The shares closed Wednesday down 3.6% at $18.99 and ...
Intel announced it is cutting 15,000 jobs as layoffs in the tech industry continue amid massive AI investment. ... The layoffs at Intel are in line with a cutting of the fat from many tech ...
Intel said Thursday that it will reduce 15% of its workforce, as part of a massive restructuring meant to boost profit and efficiency.
It also suspended bonuses and merit pay increases, while reducing retirement plan matching. These cost reductions followed layoffs announced in the fall of 2022. [113] In October 2023, Intel confirmed it would be the first commercial user of high-NA EUV lithography tool, as part of its plan to regain process leadership from TSMC. [114]
The video game industry layoffs are a part of the broader tech industry layoffs that began in 2023; [17] many such layoffs have been attributed to artificial intelligence, [18] although increased interest rates, reduced demand from consumers and excessive hiring during the COVID-19 pandemic have also been cited as causes. [17]
The layoffs aren’t going to be pleasant, but they’re a sign that Intel’s management is doing what’s needed to turn the company around and rebuild confidence in INTC stock investors.
Intel laid off close to 900 employees in Folsom in 2023, including 235 on New Year’s Eve. Company officials have warned the California Employment Development Department that they anticipate more ...