The company plans to deliver $10 billion in cost savings in 2025, which will include cutting about 15,000 roles, or 15% of its global workforce.
Intel CEO Pat Gelsinger announced a huge round of layoffs to cut costs and help the company navigate what he referred to as “tough days ahead.” The company plans to deliver $10 billion in cost savings in 2025, which will include cutting about 15,000 roles, or 15% of its global workforce.
The news of the layoffs came in a note to employees from Gelsinger following second-quarter 2024 earnings being published. It also comes at a time when the tech giant is facing severe stability issues with its 13th/14th Gen CPUs. While Gelsinger expressed his lamentation in having to make the announcement, he was steadfast in the fact Intel “must align” its cost structure with its new operating model, as well as fundamentally change the way the company operates.
