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You ever have one of those days where everything just feels… off? Yeah, well, Intel’s been having one of those years. Or maybe it’s been a rough few years? I can’t even keep track anymore. Anyway, they’re cutting people left and right. Just last month, they dropped a bombshell about laying off thousands in the US. Why? Something about focusing on AI restructuring. No clue what that even means. I mean, AI isn’t that great at making coffee yet, so what’s the deal?
So, today they spilled the beans on their Q2 earnings. Turns out, they’re planning to shrink their workforce down to 75,000 “core employees.” That’s about 24,000 folks getting the axe, if you trust my math—or The Verge’s, rather. It’s like they’re playing musical chairs but with actual people’s jobs. Seems like they’re also rethinking big plans for some massive construction projects in Germany and Poland. Those were supposed to create loads of jobs, but I guess now… not so much.
And just when you thought Intel was done moving pieces around the chessboard, they’re looking to shift stuff from Costa Rica to Vietnam. Testing and assembly or something. They’re not closing up shop completely in Costa Rica, though, so there’s that little silver lining. A few thousand probably get to keep their jobs—yay, I guess?
Intel’s CFO, David Zinsner, piped up about Ohio, too. Something about slowing construction there to match “market demand.” It sounds like corporate speak for “we’re broke and need to chill.” By all these moves, they’re aiming to save $17 billion next year. Still, looks like they’re not shaking off losses anytime soon. Makes you wonder when the next wave of layoffs hits, doesn’t it?
If you’re into drab corporate news, stick around—“all the latest” blah blah for Windows and Xbox lovers coming right up—or not.
Right, so what’s up with Intel, really? If you’re as lost as I was, here’s a quick mess of thoughts. Once upon a time, Intel was the top dog in PC chips. I mean, the ’80s to the early 2000s were their jam. But then they got, I dunno, lazy? Too comfy on their processors and missed the memo on how everything was going mobile. Unlike Apple, AMD, NVIDIA, Qualcomm—yeah, all those guys got the memo.
Fast forward: Intel’s catching up but losing big bucks. Like, $7 billion in losses this year. Ouch. Now, everything’s about mobile chips and AI, except Intel’s still wearing its overconfident ‘90s hat. The AI chips they did release kinda flopped. Their Intel Core Ultra Series 1 in 2024? Yeah, less than stellar. So they pushed out Series 2 faster than planned. It’s like they’re scrambling to clean a mess while holding a coffee cup with a hole in it. Ever try that? It’s impossible.
Then, their ex-CEO, Pat Gelsinger, stirred up drama with TSMC. He went on Fortune, saying something about Taiwan not being stable. Guess what? That didn’t fly, and TSMC backed out of a sweet deal that was saving Intel a chunk on production costs. Whoops.
On a side note, funny thing, I noticed more PCs are now sporting AMD chips—those used to be Intel’s playground. Go figure. What’s next for Intel? Honestly, who knows. They’re betting on new chips—Panther Lake or Nova Lake, or something. Hopefully, they do better. Otherwise, yeah, this rollercoaster of downsizing and scrambling continues.
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