Intel Intends to Trim Workforce to 75,000 “Core Employees”

Sure, got it. Here’s my take on it:

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So, picture this: Intel’s having a bit of a rough ride lately. Like, ever been on a roller coaster that just wouldn’t stop? That’s kinda them. They just announced — not long after letting people go — that they’re slicing their crew down to 75,000. That’s like letting go of a small city, around 24,000 folks or so. Yikes, right?

What gets me is Intel had this grand plan — big dreams — for hefty chip-making places in Germany and Poland. Thousands of jobs were on the table there. But now? Poof. Gone. Why? They’ve got this whole AI restructuring mission. Sounds fancy, but not so much for those looking at the unemployment line.

Here’s the twist: Costa Rica’s feeling the pinch too. Intel’s moving operations — shifting the heavy lifting from Costa Rica to Vietnam. But hey, at least they’ll keep some factories alive there, so not all is lost. Kinda like when you lose one sock but still hope to find it eventually.

David Zinsner, Intel’s CFO — who must have a tough gig — mentioned Ohio might slow down the construction rhythm. “Spend wisely,” they say. But when was the last time hearing that didn’t give anyone the jitters?

By gathering their sticks and trying this consolidation magic, Intel supposedly hopes to save $17 billion. That’s a mountain of cash. But, word on the street is they might still be leaking money this quarter.

And, oh! Skip to the juicy bit — layoffs? Yep, still in the cards but no one knows when.

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Intel, the giant that dominated the chip scene back in the ‘80s through early 2000s, seems to have snapped its suspenders a bit too hard. Seriously, for a while, they owned the room — the chip room. But then, they kinda missed the memo on mobile processors and AI stuff. Meanwhile, Apple, AMD, NVIDIA, Qualcomm? They were dancing circles around them.

Fast forward, and it’s 2023. Intel is staring at a $7 billion loss, like discovering a hole in your wallet the size of Texas. And the year before? Another $5.2 billion lost. Thanks for keeping score, TechWire.

The mobile chip game blew up, and Intel’s scrambling like a cat on a hot tin roof. Their Intel Core Ultra Series 1 AI chips hit the shelves in 2024 but kinda went “meh” against the rivals. So, they hustled out Series 2, trying to patch the boat before it sank.

And oh boy, remember Pat Gelsinger, Intel’s former CEO? He stirred the pot with TSMC, insulting their stability. Big mistake. TSMC, which runs a huge chunk of the chip universe, cut Intel’s golden ticket discount on wafers. If that ain’t a self-inflicted wound, I don’t know what is.

Casually noticed more PCs are switching to AMD this year. Saw it, heard about it, maybe dreamt it over coffee. Doesn’t help Intel’s case.

So, where’s Intel aiming? They’re dreaming big with new processors — Panther Lake and Nova Lake or something like that. Fingers crossed, ‘cause they’re banking on these to steer the ship straight.

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And that’s the scoop. Let’s see if they manage to turn it around, or if they’re stuck on this roller coaster from business hell a bit longer.