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Until the end of 2024, Intel had 99,500 employees in Total Workforce. The number will be reduced to 75,000 by the end of 2025 after the trimmed.
Intel, one of the world’s largest semiconductor companies, will pruning one-fourth of its workforce this year i.e. 24,000 employees (32.66%). The company has announced a large-scale cost cutting and restructuring in the leadership of the new CEO Lip-Bu Tan.
Along with this, Intel has also canceled its essential expansion projects in Germany and Poland. Because the company is trying to improve its economic status and strengthen the competition in the market.
Until the end of 2024, Intel had 99,500 employees in Total Workforce. However, this number will be reduced to 75,000 by the end of 2025 after the trimming.
The company has reduced management levels
CEO Tan described this decision of the company in a letter written to the employees as a tough and necessary decision. In the second quarter of this year, the company already reduced the management levels and recorded a restructuring expenses of $ 1.9 billion, or Rs 16,450 crore.
Intel canceled assembly and test facility
Intel has canceled the proposed mega-fib for 3,000 employees in Germany and assembly and test facility for 2,000 employees in Poland. These projects were already postponed for two years in 2024.
Apart from this, more than 2,000 out of 3,400 employees of Intel in Costa Rica will be affected in this trimming. Because the company is transferring its assembly and test facility to Vietnam and Malaysia.
CEO Lip-Bu Tan of Intel. (File photo)
Chip factory work in Ohio will be completed by 2030
The company’s $ 28 billion (Rs 2.42 lakh crore) chip factory in Ohio, USA, was to be completed by 2025. Now according to the demand of the market, it will be made at a slow pace and its work will be completed only after 2030.
In a few years the company invests more than demand
This project was funded by the Chips Act of the Biden government. Tan said, ‘In the last few years, the company has invested a lot without demand. Due to which our factories were scattered and less used.
Intel recorded a loss of ₹ 25,107 crore
Intel recently recorded a quarterly loss of $ 2.9 billion, or Rs 25,107 crore, at a revenue of $ 12.9 billion (Rs 1.12 lakh crore), which is the company’s longest loss in the last 35 years. At one time, the leading in PC chips, Intel is now lagging behind competitions like Envadia and AMD in the sector of Artificial Intelligence (AI).
Automotive chip-making unit closed in June
Intel closed its automotive chip-making unit in June and separated the RealSense Computer Vision Unit in July. The company will implement the return-to-office policy from September. Tan said that these steps are being taken to change the culture of the company.
Will strengthen engineers to innovate
Tan told the employees, ‘We will strengthen engineers to intensify and reduce the cost to invest in future AI chips and PC processors to get a share in the market. Intel’s future is in our hands and we do not have the scope to waste time.
This is a major step towards Intel’s Strategy Company financially stabilizing and strengthening its position in the market again. But this can prove to be a difficult period for employees and affected sectors.
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