Intel will cut thousands of jobs

In these last hours Intel confirmed his decision of lay off thousands of employees to amortize outgoing expenses. Apparently, the company plans to cut about $ 3 billion of costs over the next year. And the CEO Pat Gelsinger he stressed that a large part of these will concern the management of people. On the other hand, already some time ago he had confirmed the job cuts in Bloomberg, when the company had started to reduce working hours of some employees. In any case, I enter the end of 2025the company hopes to have reduced its costs by $ 8 billion to $ 10 billion a year.

Intel will lay off thousands of employees to reduce outbound expenses

“The chip industry is changing from a shortage to a surplus (by early 2023) on a number of devices. This will have a negative impact on revenues in the chip business (at least in most cases) and typically these situations require a reassessment of costs and margins “, so the analyst Gaurav Gupta comments on the current situation of the semiconductor industry. Therefore, Intel seems willing to run for cover by cutting costs by reducing staff – although it is not yet clear the real number of jobs that will be cut.

“The amount we can make relative to people’s costs is a minority of our overall cost structure. So for our economy, driving efficiency in the network of plants is much more important than the cost of people, ”Pat Gelsinger said in an interview with Reuters, adding that these changes could be“ fairly immediate ”. In fact, reportedly i staff cuts they could start as early as the fourth quarter of the year. And, according to what Bloomberg reported long ago, i sales and marketing team Intel could see the biggest cuts.