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.

PayPal, the global digital payments giant, would have laid off about 2,500 employees today, in order to reduce operating costs and maximize profit margins.

PayPal cuts payroll An employee of the company who attended a meeting confirmed this, saying that among the fired are members of engineering, research and development teams, Watcher Guru reported.

The employee’s information matches what was seen today among some affected employees, who updated their LinkedIn profiles and shared the news with their contacts.

Some noted that the move was driven by the company’s new CEO, Alex Chriss, who took over the helm of PayPal in September last year and seeks to maximize the company’s profits.

The curious thing about this move is that it comes days after Chriss participated in an interview for CNBC, where he spoke briefly about PayPal’s new plans and said that they would “surprise the world” with what they have planned.

It should be noted that PayPal is not the only technology company that has decided to cut its workforce to save costs. 2023 was full of many organizations in the crypto sector that took similar steps, and the most recent to do so was Block, the Blockchain payments and development company led by Jack Dorsey, which laid off an undetermined number of employees this week.

K. Tovar

Source: DiarioBitcoin

(Reference image source: Marques Thomas, Unsplash)

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La entrada Paypal laid off about 2,500 employees apareció primero en Bitfinance.