Intel to Streamline Workforce to 75,000 “Core Employees”

Hey, so, Intel’s been on this, uh, wild ride lately—not the fun kind. They’ve been trimming down their workforce like it’s the new trend. Just last month, bam, thousands of US workers laid off. Why? AI restructuring. Yep, everyone’s on that AI train.

And then today, there was this big reveal with their Q2 earnings. Basically, Intel’s going to have around 75,000 “core employees” now. If The Verge does their math right, that’s about 24,000 folks getting pink slips. Ouch. You ever wonder if big numbers make bad news sound… not as bad? Or just me?

Oh, and those huge plans in Germany and Poland? The chip fabs that were supposed to bring in loads of jobs? Yeah, they’re pulling back from those too. Maybe it was too ambitious. Or maybe the universe is just in a weird mood.

Anyway—wait, where was I? Yeah! Costa Rica. Intel’s doing some operation shuffle from there to Vietnam. But, hey, they’re not closing down completely in Costa Rica. So some folks there are safe. Silver linings, right?

The CFO, David Zinsner (kind of a big deal, I guess?), mentioned Ohio’s getting impacted too. They’re slowing construction to, what was it? Align with market demand. Sounds as boring as it is serious.

Overall, Intel’s gunning to save, like, $17 billion next year. But seems they’re still in for a loss this quarter. Makes you think, are they really saving?

And, um, who knows when the next layoffs are coming. It’s like a suspense thriller but in the corporate world. Not my favorite genre, honestly.

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In case you’ve been on a digital detox or something, let me give you the scoop on what’s happening with Intel. Not everything, obviously. Just the bits and pieces that float around my head.

Back in the day, Intel was THE king of PC chips. That’s the ’80s through early 2000s era. But then, maybe they got too comfy with their spot at the top? They missed the boat on mobile processors and AI tech. Meanwhile, Apple, AMD, and others were like, “Hey, we’re here!” So, catch-up time for Intel. Which costs a pretty penny.

2023 was rough—$7 billion evaporated in operating losses. That’s on top of $5.2 billion in 2022. (Thanks for the number crunching, TechWire).

Fast forward, everyone’s going gaga over mobile chips and AI. Intel’s in this awkward dance, trying to match up to the competition. Their AI chips in 2024, uh, didn’t wow anyone. Thus, they hit the gas on their next-gen chips the same year. Desperate move or smart? Who can say?

And then, drama! Their ex-CEO Pat Gelsinger ticked off TSMC by implying Taiwan wasn’t stable. That relationship? Kaput. Along with a sweet discount on wafers. Pretty sure that stung.

Oh, and something I’ve noticed (or imagined), more people are picking AMD over Intel for their PCs this year. Times are changing, huh?

Looking ahead, folks are crossing fingers for the new Panther Lake and Nova Lake processors. Will they turn the tide? Hard to say, but Intel’s betting on it. We’ll see where this all leads. Fingers crossed, less drama.