Intel to Slash Workforce by One Third by 2025

⚠️ Intel to Slash Workforce by One Third by 2025

The tech giant is making some major changes in a bid to turn things around.

Intel has been struggling lately, and they're pulling out all the stops to get back on track. One of their biggest moves? Slashing their workforce by a third by 2025.

This isn't just about saving money; it's part of a broader strategy to streamline operations and focus on core strengths.

🤔 Why is This Big News?

Intel isn't just any company. They're one of the biggest names in the tech world, known for their powerful processors that power everything from laptops to supercomputers.

When they announce such drastic changes, it sends ripples through the entire industry.

📉 The Details of Intel's Restructuring

🎯 Cutting the Workforce

• Intel currently employs around 108,900 people.
• By the end of 2025, they plan to have a core workforce of just 75,000 employees.

💰 Reducing Expenses

• Intel aims to bring its non-GAAP operating expenses down to $17 billion this year.
• They're targeting $16 billion by the end of 2026.

🗺️ Shifting Focus and Scaling Back

• No new projects in Germany and Poland.
• Consolidation of Costa Rican testing and assembly operations into existing facilities in Vietnam and Malaysia.
• Slower growth at the Ohio construction site.

🤝 A New Era for Intel?

These changes are a big deal, but it's too early to say if they'll be successful.

New CEO Lip-Bu Tan is making bold moves to turn things around, and the market will be watching closely to see if it pays off.