Approximately 21,000 Intel workers will be laid off after Intel announced losses of approximately $821 million in the first quarter of this year.

The layoffs correspond to approximately 20 % of the workforce, according to forecasts aimed at optimizing the technology company’s operations.

The new CEO, Lip-Bu Tanm, wants to turn the company around, “although time will tell if more layoffs are the best option.”

The layoffs are in addition to the 15,000 employees during 2024, amid an unfavorable environment for the company, which “has lost its technological level and is struggling to keep up with Nvidia, among others, in the field of computing and components designed to work with Artificial Intelligence.”

The new CEO is taking strong measures, such as replacing several executives. He also plans agreements to eliminate departments that are not essential to achieving his goals. In this regard, we can mention a recent agreement to sell 51 % of Altera’s shares to the investment fund Silver Lake Management.

In any case, internal finances require adjustments to operating costs, even below forecasts, in addition to replacing the engineering talent it has been losing.

M.Pino

Source: muycomputer

(Reference image source: BoliviaInteligente on Unsplash)

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La entrada Intel to lay off 20 % of its workforce due to $821 million in losses apareció primero en Bitfinance.