The biggest loser in the chip war, Intel cut its performance

2024-08-02 13:01:58

The American electronics giant will cut 15,000 jobs and wants to save $10 billion. Your intended strategy to take in AI is slow to produce its effects.

“This is the most difficult decision I have made in my career.” Pat Gelsinger didn’t go out of his way to comment on Intel’s performance during this half year. The company’s CEO, who was called back to the helm three years ago now to rescue the American electronics chip giant from the maker’s misery, has launched a massive cost-cutting plan which will result in the elimination of 15,000 jobs, or 15% of your staff. . “This is a very difficult day for Intel, as we are in the midst of some of the most significant changes in our company’s history.”said the boss in a memo he sent on August 1 to all employees.

This plan, which should allow Intel to save up to $10 billion by 2025, was announced in the wake of disappointing results and financial forecasts. Change, down 1%, reached 12.8 billion and profit, …

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