Intel plans to cut thousands of jobs to reduce costs and regain market share.
🟦 Intel plans to cut thousands of jobs to cut costs and regain market share
Intel currently has about 110,000 employees, of which Intel plans to cut a few thousand. The move is part of a strategy to reduce costs and recover performance, and could be officially announced as early as this week. The company is also expected to announce its financial results for the April-June 2024 quarter on August 1.
🟦 Initiatives to Improve Technology and Strengthen Competitiveness
Under CEO Pat Gelsinger, Intel is investing heavily in R&D to improve technology and strengthen its competitiveness. Once a dominant company in the industry, Intel has lost market share to rivals such as Advanced Micro Devices (AMD) due to intensified competition in recent years. However, the company continues to invest in the development of AI semiconductors and the expansion of its foundry business, aiming to re-emerge in the industry.
🟦Summary
Intel is cutting thousands of jobs to keep costs in check, break out of a slump and regain market share. In doing so, we are securing funding to improve our technology and strengthen our competitiveness, and we are advancing our strategy to re-establish our position in the semiconductor industry.
The reason why the timing of job cuts is delayed compared to the IT industry may be because Intel is a hardware company. I hope it’s not too late to judge.
