Intel to fire 21.000 workers this week

winjer

winjer

Member
wccftech.com

Intel To Reportedly Announce The Layoff Of Over 21,000 Employees - Equal To 20 Percent Of Its Workforce - This Week

Intel had 108,900 employees at the end of 2024, which means that the planned layoffs will affect over 21,000 employees.
wccftech.com wccftech.com



Cantor Fitzgerald's star analyst, C.J. Muse, noted earlier this week that he saw "aggressive cost-cutting" and a "greater sense of urgency and purpose" at Intel now that Lip-Bu Tan was at the helm of the iconic chipmaker. Well, we might be about to witness the first such significant penny-pinching step from the new CEO.

To wit, Bloomberg is now reporting that Intel will announce plans later this week to cull its workforce by 20 percent. As per a tabulation by Trading Economics, Intel had 108,900 employees at the end of 2024. Accordingly, the planned layoffs would presumably affect over 21,000 employees.
Click to expand...

Do note that this is not the first time that the financial media has reported on Intel's planned layoffs in recent months. A similar report by Bloomberg also surfaced back in July 2024, highlighting Intel's then-plans to cull its workforce by 10,000 employees. However, Intel's total workforce has persisted around the 110,000 level for the past few months.

Intel, under the tutelage of its previous CEO, Pat Gelsinger, had devised an ambitious cost-cutting plan, to the tune of $10 billion. It remains unclear if Intel's latest purported plan for a 20 percent cut in its workforce adheres to the broad outlines of Gelsinger's strategy or constitutes an entirely new effort by Lip-Bu Tan.
Click to expand...

Intel shares are up 2 percent in after-hours trading today, which follows ~4 percent gains in the regular trading session. So far this year, the stock is largely flat, having recouped some of its steeper losses of March and early April.
Click to expand...

Once again, it's the workers that pay the price of bad decisions from the top, but I bet that the CEO and shareholders will still get millions at the end of the quarter.
 
I mean, I don't know how they could have avoided a massive restructuring after the absolute buttfucking they've been taking. Catastrophically bad stewardship for years that yes - as you said - the employees will pay the price for. At least the dumbfuck CEO got ousted.
 
I assume all those who were going all wackadoo a few weeks ago with Teslas will be out there destroying intel property and attacking anything with an intel chip.... right? right???

Surely people aren't just hypocrites...
 
Once again, it's the workers that pay the price of bad decisions from the top, but I bet that the CEO and shareholders will still get millions at the end of the quarter.
Click to expand...
The layoffs are reputedly targeting the middle manager do nothing bureaucracy, people earning deep six figures for having meetings about having meetings and sending emails about sending emails. These "workers" are all well aware they're gross fat that doesn't don't actually do anything and have basically been running a con.
 
Last edited:
del bosque soccer GIF by Fusion
 
Lost and gave up the mobile market to arm.
Lost and gave up the gaming console market to amd (valve, asus, lenovo, ... portable consoles are also using AMD).
Losing the AI market to nvidia. How long before they also gave up on GPU?
Gave up SSD market.

Back in 2020, 81% of the steam users had an intel cpu. today, it's 62%.
kUZnoaE.jpeg
60pEtj3.jpeg
 
Sophist said:
Lost and gave up the mobile market to arm.
Lost and gave up the gaming console market to amd (valve, asus, lenovo, ... portable consoles are also using AMD).
Losing the AI market to nvidia. How long before they also gave up on GPU?
Gave up SSD market.

Back in 2020, 81% of the steam users had an intel cpu. today, it's 62%.
kUZnoaE.jpeg
60pEtj3.jpeg
Click to expand...
Did the ARC GPUs even ever really take off, i don't personally know anyone who ever wanted one or bought one, Sure that's anecdotal but it's still gauging popularity based on the common person.
 
winjer said:
Once again, it's the workers that pay the price of bad decisions from the top, but I bet that the CEO and shareholders will still get millions at the end of the quarter.
Click to expand...
Wasn't the CEO fired not long ago? And according to my knowledge the shareholders lost a lot of money in the past twelve months.
 
Goalus said:
Wasn't the CEO fired not long ago? And according to my knowledge the shareholders lost a lot of money in the past twelve months.
Click to expand...

Yes, Pat was fired. And the consequences of many years, wasting money on shareholders, instead of R&D hit hard.
And of course, many shareholders sold their stock, making the value of Intel plummet.
 
winjer said:
Yes, Pat was fired. And the consequences of many years, wasting money on shareholders, instead of R&D hit hard.
And of course, many shareholders sold their stock, making the value of Intel plummet.
Click to expand...
Ah, the beauty of management getting paid in stock when they can then influence by initiating a stock buyback, thus driving the share price higher….
 
Cyberpunkd said:
Ah, the beauty of management getting paid in stock when they can then influence by initiating a stock buyback, thus driving the share price higher….
Click to expand...

Pat wasn't even the main culprit.
Brian Krzanich was the one that started cutting R&D and pouring money in stock manipulation, while eroding Intel's advantage over everyone.
 
winjer said:
"Remember a couple of years ago, when Intel received $1 billion in taxpayer money that was supposed to be invested in their fabs, only to give $1.5 billion to shareholders by the end of the quarter?"
Click to expand...
Yep, this is to prop up the stock. They are firing engineers in R&D, shedding future prospects and killing off some of the fab work even though they got paid for it.

Government should have taken over the company for a while like they did with GM. This move is the usual corporate fuckery "for the shareholders".
 
Haint said:
The layoffs are reputedly targeting the middle manager do nothing bureaucracy, people earning deep six figures for having meetings about having meetings and sending emails about sending emails. These "workers" are all well aware they're gross fat that doesn't don't actually do anything and have basically been running a con.
Click to expand...
This is nonsense. They aren't finding 20k+ "useless" middle managers out of 109K employees. And you need some middle managers since otherwise shit is going to be chaotic.

Once you get over 10 or so people at a management layer (tech management), things are going to start getting dropped.

What this is going to do is prop up stock enough (watch for stock buybacks as well) that the new CEO earns a good golden parachute to jump out as soon as he makes that $$$$.
 
Expect ARC GPU to be a casualty of this.

What a shame.

I actually don't think Arrow Lake are terrible CPUs. Just wayyyyy overpriced. Raptor Lake ended up being a GIANT disaster.

Just so many missteps.
 
I can tell u more and more gamers going amd, few years back, in late 2017 i was going for best gaming cpu, only proper choice was 8700k, nowadays u got 9950x3d, if u going cheaper 9800x3d, if u going even cheaper 7800x3d, intel nowhere insight, nuff said :P

FFS their ultra i9 285k is slower than previous gen's i9 14900k(which ofc had crazy powerdraw and temps, but still, at least it wasnt decimated in performance like 285k is...).
 
Last edited:
winjer said:
Yes, Pat was fired. And the consequences of many years, wasting money on shareholders, instead of R&D hit hard.
And of course, many shareholders sold their stock, making the value of Intel plummet.
Click to expand...
To be fair, Pat wasn't the CEO all this time. He was part of the problem, but the board has to take a lot of the blame as well.
 
Most recent tech news from intel was a new socket (again) and TSMC making the chips.
There is an over 2 hour video from tech Jesus Nexus about PC being unaffordable. I need to try and watch.
 
Magic Carpet said:
Most recent tech news from intel was a new socket (again) and TSMC making the chips.
There is an over 2 hour video from tech Jesus Nexus about PC being unaffordable. I need to try and watch.
Click to expand...

Yup ArrowLakeS and ArrowLakeR will be on LGA1851 then NovaLake and RazorLake will be LGA1954, probably a refresh squeezed in there too.


P.S You dont need a range topping CPU or GPU to enjoy PC gaming.
Alot of people only look at range topping chips as if no other chips exist.
Before the 3080 the last time I had a range topping chip was the 8800.
Otherwise I always buy a tier down every second generation.

CPUs I so rarely upgrade and generally these days every modern CPU will get you well past the finish line in like 90% of games.
 
Can they fire the entire department that comes up with their naming schemes.

It's a bad influence on the entire CPU and GPU industry.
 
Over 100k people globally is just fucking insane, to begin with. That's just irresponsible. But yeah, this is going to suck for a lot of people.
 
Black_Stride said:
Yup ArrowLakeS and ArrowLakeR will be on LGA1851 then NovaLake and RazorLake will be LGA1954, probably a refresh squeezed in there too.


P.S You dont need a range topping CPU or GPU to enjoy PC gaming.
Alot of people only look at range topping chips as if no other chips exist.
Before the 3080 the last time I had a range topping chip was the 8800.
Otherwise I always buy a tier down every second generation.

CPUs I so rarely upgrade and generally these days every modern CPU will get you well past the finish line in like 90% of games.
Click to expand...


God the 8800 was such a beast of a GPU. It and the 1080ti are like the Super God S-Tier GPU's of our lives. Maybe the ATI 9800pro too.
 
ResilientBanana said:
Hopefully it was sales and marketing and not the people that design the chips. Can't make chips without designers and engineers.
Click to expand...
Yeah but it is the engineers and designers fault the existing chips got caught and even surpassed by AMD. Engineers and designers have been asleep at the wheel for a decade+ while the marketing and sales people have been doing their jobs.

The reason intel sucks now is not because of their marketing or sales department but rather due to the product they are selling and to a lesser extent what price they have been selling them at. Perhaps it is management that needs to go instead of marketing and sales. Imagine if intel had AMD leadership or even Nvidia leadership.

Currently Intel just appears to be mismanaged. Who is the brain controlling it? Everything they do feels like the worst kind of group think. I suspect there is no smart leader making decisions over there but there could be if you brought in new management. Where has R&D been? Who budgets for that. There are people to blame for this mess, but not the sales reps....

I bet they got into political loans and the requirements to get them(going full woke) caused their company infrastructure to fall apart. I remember early GG when Intel was tricked to help out with the GG side and the huge backlash they had and went full woke. I bet that is a big reason they are in the shitter now.
 
Last edited:
Zacfoldor said:
Yeah but it is the engineers and designers fault the existing chips got caught and even surpassed by AMD. Engineers and designers have been asleep at the wheel for a decade+ while the marketing and sales people have been doing their jobs.

The reason intel sucks now is not because of their marketing or sales department but rather due to the product they are selling and to a lesser extent what price they have been selling them at. Perhaps it is management that needs to go instead of marketing and sales. Imagine if intel had AMD leadership or even Nvidia leadership.

Currently Intel just appears to be mismanaged. Who is the brain controlling it? Everything they do feels like the worst kind of group think. I suspect there is no smart leader making decisions over there but there could be if you brought in new management. Where has R&D been? Who budgets for that. There are people to blame for this mess, but not the sales reps....

I bet they got into political loans and the requirements to get them(going full woke) caused their company infrastructure to fall apart. I remember early GG when Intel was tricked to help out with the GG side and the huge backlash they had and went full woke. I bet that is a big reason they are in the shitter now.
Click to expand...

It's the foundry. The money required to properly fund it is absurd... and it only gets worse at each successive node. And now they are too poor to properly fund it.

And since they won't cut bait, they are going to shed everything else until there is nothing left.
 
Sophist said:
Lost and gave up the mobile market to arm.
Lost and gave up the gaming console market to amd (valve, asus, lenovo, ... portable consoles are also using AMD).
Losing the AI market to nvidia. How long before they also gave up on GPU?
Gave up SSD market.

Back in 2020, 81% of the steam users had an intel cpu. today, it's 62%.
kUZnoaE.jpeg
60pEtj3.jpeg
Click to expand...
i mean ye after im done with my 9900 kf im going amd for the next build.
 
You must log in or register to reply here.

Similar threads

Rumour - Intel is firing 10.000 workers to appease shareholders
Business  2
57
5K
Halo2redvsblue replied
[Tom's Hardware] Intel laying off 1,300 workers from Oregon site as it reduces workforce by 15,000 workers company wide
1
611
Magic Carpet replied
Rumor: Another Nintendo Direct this week?
2
68
4K
WhiteWaterM00se replied
Mercury Steam's Blades of Fire to be revealed this Thursday.
News  2
82
4K
Dr. Wilkinson replied
Intel Battlemage Desktop GPU announcement imminent, launches in weeks.
Rumor  2 3
101
6K
HogIsland replied
Top Bottom