Intel cuts 24,000 jobs, cancels several factories; CEO admits "hard but...
Intel, under new CEO Lip-Bu Tan, is implementing significant cost-cutting measures, including slashing approximately 24,000 jobs and abandoning major expansion projects in Germany and Poland. The restructuring aims to address recent financial losses and refocus the company on AI chips while regaining market share. These hard decisions are deemed necessary to streamline operations and drive future growth.
Intel, under new CEO Lip-Bu Tan, is implementing significant cost-cutting measures, including slashing approximately 24,000 jobs and abandoning major expansion projects in Germany and Poland. The restructuring aims to address recent financial losses and refocus the company on AI chips while regaining market share. These hard decisions are deemed necessary to streamline operations and drive future growth.
