Intel to slash 24,000 jobs by end of 2025
Intel is planning to cut about 24,000 jobs by the end of 2025, shrinking its team from nearly 100,000 to around 75,000.
The layoffs will hit more than 5,000 people in states like California and Oregon as part of a big company shake-up led by new CEO Lip-Bu Tan.
Intel aims to save $500 million in costs next year
This move is all about making Intel leaner and more competitive. The company aims to save $500 million in costs next year and double that in 2026.
Some units—including much of its automotive chip business—are being closed or scaled back as Intel shifts focus toward newer tech like its advanced 14A chip process.
Impacted employees will get either a two-month notice or a shorter notice with extra pay and benefits.
These cuts are tough news for many workers
While these cuts are tough news for many workers, they're also part of Intel's plan to modernize—putting more energy into data centers and cutting-edge chips that could shape what powers your favorite apps and devices tomorrow.