Intel to cut 24,000 jobs as CEO pushes for shakeup
Intel is set to lay off about 24,000 employees—almost a quarter of its workforce—by the end of 2025.
The move comes as new CEO Lip-Bu Tan pushes for a major shakeup to help Intel compete better in the global chip race.
Intel is abandoning projects in Germany and Poland
To streamline costs, Intel is abandoning projects in Germany and Poland and slowing construction in Ohio.
The company is also consolidating some operations from Costa Rica to Vietnam and Malaysia.
Intel is also shifting away from big factory builds
Intel isn't just cutting jobs—it's also shifting away from big factory builds.
Instead, it's doubling down on artificial intelligence (AI) and plans to spin off its networking division as it reshapes its future.
Intel is 1 of the world's oldest chipmakers
Despite all these changes, Intel remains one of the world's oldest chipmakers—founded way back in 1968—and has played a key role in powering everything from early PCs to today's cloud servers.