Intel to Scale Down Workforce to 75,000 “Core Employees”

Sure! Here it is:

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So, here we go. Intel. You know, the tech giant that’s been… well, kinda struggling a bit lately? It’s like they’ve been throwing a series of unfortunate layoffs all over the place. Just last month, boom! Thousands more jobs poofed away as they decided to dance with AI restructuring.

Anyway, today was another headline-maker: Intel’s Q2 earnings got plastered everywhere, and surprise, surprise, they’re trimming down to 75,000 “core employees.” Some brilliant math wizard at The Verge did the dirty work and estimated that means about 24,000 folks are waving goodbye. Oof.

Oh, and those grand plans for mega fabrication facilities in Germany and Poland? Hit the brakes on those too. Jobs that could’ve been, just… gone like dust in the wind. Poetic, kinda.

Now we gotta talk Costa Rica. Intel’s keeping some of the operation intact there, but they’re sort of uprooting assembly and testing to Vietnam. Don’t ask me how many workers are sticking around, but hey, at least some are.

And did you catch what the CFO, David Zinsner, dropped about Ohio? They’re slowing construction there too, aligning spending with market demand or something like that. Sounds like they’re tightening the purse strings all around.

In short, Intel dreams of snipping $17 billion off their expenditures next year. Yet, somehow, they’re still bleeding cash. Honestly? I don’t think anyone knows when the next pink slip parade will march through.

Now, rewind a bit. Remember when Intel was riding high? King of PC chips way back when, from the 80s till early 2000s. But then the turtle caught up. Dropped the ball on mobile processors and AI, unlike clever cats like Apple and NVIDIA. Now, they’re just scrambling behind.

In 2023, they reported swallowing $7 billion in operational losses. That’s on top of $5.2 billion the prior year. Yikes! Thanks for the grim figures, TechWire. But you know mobile and AI chips are all the rage now, right? Intel’s been hustling to catch that bus.

Their Intel Core Ultra Series 1 AI chips launched in 2024 didn’t exactly light up the skies. Cut to them putting the pedal on releasing the next-gen Series 2 later that year.

You want drama? Former CEO Pat Gelsinger had a go at TSMC during an interview, commenting on Taiwan’s stability—or lack thereof. TSMC didn’t take kindly to that and axed their sweet deal with Intel, costing Intel a juicy discount on some vital tech. Oh boy, that stung.

Something’s shifted out there. I’ve noticed more AMD chips popping up in PCs than before. It’s like lovers switching sides—all dramatic and surprising.

So, what’s next for Intel? I mean, aside from the downsizing and AI laser focus. They gotta play catch-up without burning cash like tinder. Maybe… maybe there’s more trimming on the horizon?

Everyone’s watching the hype on the new Panther Lake and Nova Lake processors. Let’s see if they can deliver a comeback to cheer about. If not, well… that’s another story for another day.