Intel CEO Suggests More Layoffs Could Be Coming as Company Accepts $3 Billion in Direct Funding from U.S. Government

[Tsing]

Intel CEO Pat Gelsinger announced in August that Intel would be reducing its head count by roughly 15,000 roles (or 15% of its workforce) as part of a $10 billion cost savings plan for 2025, but even more layoffs may be coming, according to a new message that the executive sent to employees yesterday about how the company must "continue acting with urgency to create a more competitive cost structure," with a note about how its current product portfolio will undergo "streamlining."

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[MadMummy76]

Government funding that they'll invest in China, and not use to save domestic jobs.

 

[Peter_Brosdahl]

I always want to remind that this 15%, 15,000 was preceded by another 10%., 10,000, the year before so we're really looking at around 25% from then to 2025. I think it's a shame how the previous round of layoffs seem to be left out in current reports regarding Intel's ongoing strategy. Most folks would already raise an eyebrow if you told them you just laid off a quarter of your workforce and still planned to let go of more but its sure a lot easier to pan off when said that only 15% were let go.