Intel plans to slash 25,000 jobs in 2025 as new CEO warns, ‘There are no more blank checks’

Intel CEO Lip-Bu Tan sent a memo to employees Thursday informing them of significant ongoing layoffs and other cost-cutting measures. The company has struggled to maintain a competitive edge amid ongoing financial losses and strategic setbacks in the AI and semiconductor markets.

“There are no more blank checks,” Tan wrote in a memo to employees, published by Reuters. “Every investment must make economic sense. We will build what our customers need, when they need it, and earn their...