Intel Corp. plans to eliminate thousands of jobs to reduce costs and fund an ambitious effort to rebound from an earnings slump and market share losses.
The workforce reduction may be announced as early as this week, according to people familiar with the company’s plans, who asked not to be identified because the information isn’t public.
Intel, which is scheduled to report second-quarter earnings Thursday, has about 110,000 employees, excluding workers at units that are being spun out.
https://www.bloomberg.com/news/articles/2024-07-30/intel-to-cut-thousands-of-jobs-to-reduce-costs-fund-turnaround
Posted by s1n0d3utscht3k
3 comments
What’s with Intel making one bad decision after another?
Well that’s just messed up.
So to turn this phrase around. “Intel is cutting jobs to place more money in shareholders hands.”
Not for the betterment of their product, or the company. How is this legal or considered ethical?
small minds complaining about money going to Ukraine as a waste even though they are saving us billions and potentially thousands of lives.
let’s look at money being invested domestically,
from Intel themselves,
https://www.intel.com/content/www/us/en/newsroom/resources/us-chips-act-funding-intel.html#gs.cdhvgb
8.5 billion in direct government funding to Intel to do what? lay off thousands?
hope this kicks off an investigation.