{"id":194007,"date":"2024-08-04T00:22:56","date_gmt":"2024-08-04T05:22:56","guid":{"rendered":"https:\/\/lifeboat.com\/blog\/2024\/08\/intel-to-fire-15000-people-because-of-disappointing-earnings"},"modified":"2024-08-04T00:22:56","modified_gmt":"2024-08-04T05:22:56","slug":"intel-to-fire-15000-people-because-of-disappointing-earnings","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2024\/08\/intel-to-fire-15000-people-because-of-disappointing-earnings","title":{"rendered":"Intel to Fire 15,000 People Because of Disappointing Earnings"},"content":{"rendered":"<p><a class=\"aligncenter blog-photo\" href=\"https:\/\/lifeboat.com\/blog.images\/intel-to-fire-15000-people-because-of-disappointing-earnings2.jpg\"><\/a><\/p>\n<p>Proving <a href=\"https:\/\/80.lv\/articles\/intel-plans-to-cut-thousands-of-jobs-to-assist-rebound\/\" target=\"_blank\" rel=\"noopener\">earlier rumors<\/a> to be true, chip manufacturer Intel has announced its plans to fire over 15% of its total workforce, amounting to between 15,000 and 19,000 employees, in an attempt to save $10 billion in 2025.<\/p>\n<p>In a note sent by Intel CEO Pat Gelsinger to the workers, the director sang a familiar song of the firings being very painful news and the hardest thing he\u2019s ever done in his career, attributing the decision to leave thousands of people unemployed by declining profits as Intel is \u201cyet to fully benefit from powerful trends, like AI\u201d<\/p>\n<p>To address the issues the company faces these days, the CEO aims to cut operational costs, simplify Intel\u2019s portfolio, eliminate overlapping responsibilities, halt non-essential work, and reduce Intel\u2019s capital expenditures for 2024 by over 20%, leaving the company\u2019s overall IDM 2.0 strategy, which includes priorities such as \u201cexpanding manufacturing capacity in the US and EU\u201d and \u201cdelivering AI everywhere\u201d, unchanged.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Proving earlier rumors to be true, chip manufacturer Intel has announced its plans to fire over 15% of its total workforce, amounting to between 15,000 and 19,000 employees, in an attempt to save $10 billion in 2025. In a note sent by Intel CEO Pat Gelsinger to the workers, the director sang a familiar song [\u2026]<\/p>\n","protected":false},"author":427,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-194007","post","type-post","status-publish","format-standard","hentry","category-robotics-ai"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/194007","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/427"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=194007"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/194007\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=194007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=194007"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=194007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}