Intel closed thousands of employees: CEO Memo

At the end of 2024, Intel was near 108,900 employeesNow chipmaking giants are planning to cut more than 33,000 jobs to 75,000 employees by the end of the year.

Intel CEO Lip-Bo Tan, 65, said Employees memo On Thursday, Intel is implementing a plan to reduce its workforce by 15%. The trimming is approximately 21,000 roles (about 20%of Intel’s workforce), allowing the company to leave from April to June, mainly focused on cutting the layers of middle management.

Intel announced in August earlier that he was getting away from 15% of his employees or over 15,000 employees last year.

Connected: Intel needs employees to work more often than the office: ‘This action is necessary’

In its second quarter Earning report Continued on Thursday, Intel reported a loss of $ 2.9 billion in the sixth consecutive quarter, a year ago a loss of about $ 1.6 billion at the same time. Increased loss was mainly Reorganization cost $ 1.9 billion due to job cuts.

Stated in the body Conference call Following the report with analysts and investors that in the last three months, he completed the “a systematic review” of Intel’s headcon and expenditure.

Tan said on the call, “Our goal is to reduce inefficiencies and excesses and increase accountability at every level of the company.” “We need to return to the right-size and the company.”

^{Intel CEO Lip-Bo Tan. Photographer: Annabelle Chiha/Bloomberg through Getty Image}

Tan, who was the CEO of the first chip software company pool design system 2009 to 2021Now Intel is assigned to turn around three years Revenue fall. He became On March 18, in place of Intel CEO, former CEO Pat Gailinger.

Intel faced competition from rival companies such as Nvidia, which captured more part of the AI chip market. NVIDIA had 70% to 95% market share for AI chips last year, while Intel’s less than 1%, per compared to per 1% CNBC,

Connected: How NVIDIA CEO Jensen Huang converted a graphics card company into an AI veteran: ‘One of the most notable business pivotes in history’

However, Intel is trying to catch. The company plans to launch more efficient chips later this year to better compete with Nvidia and other rivals. The Wall Street Journal,

Intel store The last month was more than 7%, but about 2% year-old year.

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