Intel is about to cut thousands of employees

In response to the decline in market share in the chip manufacturing segment, Intel is planning to lay off thousands of people and will announce it this week, according to Bloomberg citing internal sources. The company currently has about 110,000 employees.

The company currently has about 110,000 employees.

Intel representatives refused to comment on the above information.

Intel is about to cut thousands of employees Picture 1 Intel is about to cut thousands of employees Picture 1

Although Intel is one of the major companies in the computer and server market, it is currently having difficulty meeting chips used in artificial intelligence applications due to increasing demand.

So, to regain the company's competitive advantage, CEO Pat Gelsinger launched a restructuring plan, focusing on revitalizing manufacturing capabilities, investing in advanced chip technology and expanding into new markets. new school.

Previously, in October 2022, the company announced a plan to cut costs by $3 billion by 2023, which will reduce the number of employees from 131,900 to 124,800. And by 2025, the company will have annual cost savings of $8 to $10 billion.

Intel still dominates the computer chip industry, but recently its market share has been continuously going down, while rival AMD has made significant progress.

According to data published by research company Stocklytics last week, in the second quarter of 2024 Intel's market share of chips for PCs and laptops decreased by 20% to 71.9%, while AMD's market share increased by 22% over the same period. last year's period increased to 21.7%.

It will take a lot of time for AMD to catch up with Intel in the computer chip segment, but now there are signs that the gap between the two sides is narrowing.

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