Intel Plans To Layoff “Thousands of Employees” Amid Restructuring Policy & Loomy Quarterly Financial Report

wccftech.com:

Chip giant Intel is now planning to layoff "thousands of employees" in an attempt to cut costs and allocate more resources for R&D efforts.

Intel Isn't At The Ideal Spot When It Comes To Finances, The Firm Faces Massive Troubles With Consumer & Client Segment, Layoffs Imminent

Well, it looks like this year isn't going well for Team Blue at all, as the firm is looking to be significantly behind when it comes to revenue generation from its competitors. To top it all off, Team Blue has now announced that they plan to implement a massive layoff, in an attempt to find a "rebound" from the economic downturn the company has been facing in the past few quarters. The news is indeed disappointing, and while we haven't seen any figures surface, it is said that "thousands of employees" will be affected by the decision.

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We certainly can't say that we saw the layoff layer coming from a long time, but things aren't good at Team Blue's camp either, given that not only is the firm hasn't been able to keep up in the AI hype with its Gaudi offerings, as its competitors are far ahead with their respective products. Apart from this, on the consumer side of things, Intel might be facing one of its worst years yet, as the company's 14th Gen & 13th Gen CPUs are a victim of widespread instability issues, which have affected millions of users across the globe.

Bloomberg reports that Intel's workforce currently stands at 110,000, at the time when the company is scheduled to report its quarterly earnings, and it is reported by sources across the internet that Intel plans to layoff 10,000 of its employees, but the divisions affected are currently unknown. Team Blue has already disclosed plans to implement a large-scale cost cutting policy, valued at a total of $10 billion by 2025, so the layoff wave indeed is a part of the firm's long-term plan.

Team Blue needs