Intel Announces Major Layoffs: 15,000 Employees to Be Affected as Company Cuts $10 Billion in Spending.
Matilda
Intel Announces Major Layoffs: 15,000 Employees to Be Affected as Company Cuts $10 Billion in Spending.
Intel, a historic leader in the semiconductor industry, has recently made headlines with a dramatic announcement: the company will lay off 15,000 employees, representing more than 15% of its global workforce. This major downsizing is part of an extensive strategy to cut $10 billion in spending by 2025. The decision follows a disappointing second-quarter earnings report and a forecast that paints a bleak picture for the rest of the year. This comprehensive article explores the implications of Intel's layoffs, the company's financial struggles, and the broader impact on the semiconductor industry. The Unfolding Financial Crisis at Intel Intel's announcement of massive layoffs is not an isolated event but rather a significant part of a broader strategy to address severe financial challenges. The company has faced substantial difficulties in recent years, reflected in its declining revenue and profitability. From 2020 to 2023, Intel’s annual revenues fell by a staggering $24 bil…
