Struggling Intel leaves 2,000 employees in America – 13,000 and to cut jobs – CNBC TV18

Struggling Intel leaves 2,000 employees in America – 13,000 and to cut jobs – CNBC TV18

/ Vidya / By


Intel has been sailing in troubled water ever since hand-based processor and Nvidia took the world from the storm. Once synonymous with computing provu, the company is now struggling to move forward. Intel, whose stock fell to about 60% this year (year-on-year), has started its latest trimming attempt-15,000 pruning starting from this week.

The move is part of the plan to cut CEO Pat Gelsinger’s cost to $ 10 billion, as the top dog once in chipmaking business struggle to survive between a fight for relevance.

On Thursday, 17 October, Intel cut over 2,000 jobs in three places in the United States – 1,300 in Oregon, 385 in Arizona and 319 in California. According to a notice issued under the US worker adjustment and the Preventive Notification Act, the company plans to launch 251 employees in Austin, Texas, which suggests that companies inform the employees of large -scale retrenchment.

Also read: Why the world’s OG chip manufacturer is in strict straits

Losing someone’s job is never easy to swallow, but some employees have taken it in their strid, going on social media in search of job opportunities.

Others tried to give it a political spin, linked to the Biden administration and the next month’s US presidential election.

Others still tried to help those people in crisis, suggested, advice or led to a job as soon as possible.

An Intel spokesperson told American Media Outlet commission These pruning are part of the plan of Jingar, which he declared in August/September.

“As a part of the comprehensive-based cost savings scheme we announced in August, we are making difficult but necessary decisions to reduce the size of our workforce. These are the most difficult decisions we ever make, and we are treating people with care and respect, ”the spokesperson said commission In a statement.

In a letter to employees on 16 SeptemberGelsinger said, “As we work with the request to execute the plan made last month, we are also working to manage our cash carefully because we are a meaningful form in our balance sheet and liquidity Let’s improve … all the eyes will remain on us.

Intel has experienced a sharp twist in his fate in recent years. The company, which earned three times as the reign of champion champion Nvidia just three years ago, is expected to post only half of Nvidia’s revenue in 2024. The company suffered a net loss of $ 1.61 billion in the previous quarter, predicting the upcoming damage by analysts. Year.

Thursday’s development follows a comprehensive trend in the technical industry, where companies are adjusting their workforce in response to economic pressures. On 17 October, social media giant Meta allowed an unspent number of employees to go.

“Today, some teams in Meta are making changes to ensure that resources have been aligned with their long -term strategic goals and location strategy,” the company Spokesperson Dave Arnold told The VergeWithout dividing the number of cuts.

Crunchbase News estimates that tech companies have fired more than 320,000 people since the beginning of 2023.

Also Read: Meta Sorting: WhatsApp faced employees, and jobs cut on Instagram, The Verge Report

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