Intel announces plans to lay off over 15,000 staff

Intel has announced its plans to lay off 15,000 staff by the end of the year as part of a planned effort to deliver “$10 billion in cost savings in 2025.”

This is part of the software giant’s cost reduction plan that might see as many as 19,000 job losses, around 15% of staff.

Announced in a memo delivered to staff after their second-quarter 2024 earnings call, Intel has stated that they need to “fundamentally change the way we operate,” and acknowledged that “revenues have not grown as expected ...