Intel layoffs underway as chipmaker aims to cut 15,000 jobs
Layoffs that Intel announced last summer got underway in earnest this week as the company works to cut 15,000 jobs across its business, the biggest downsizing in its five-decade history.
With its sales flagging, and its technology falling behind competitors’, Intel wants to shave $10 billion in expenses next year while it mounts a slow-moving turnaround effort. The company’s revenues have fallen by nearly a third since 2021 and Intel — until recently the world’s largest chipmaker — has been virtually shut out of the booming market for advanced artificial intelligence.
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