From Daily Mail: Silicon Valley titan Intel will slash 25,000 jobs this year as it battles to turn around its flagging fortunes.
The chipmaking giant — which makes processors that power millions of Dell, HP, and Lenovo computers — will shrink its workforce from about 99,500 to 75,000 by the end of 2025.
Bosses said the layoffs come alongside plans to abandon factory projects in Germany and Poland, slow the pace of construction on major facilities in Ohio, and consolidate operations in Costa Rica into bigger hubs in Vietnam and Malaysia.
Thursday’s confirmation on the scale of the layoffs came as Intel updated Wall Street on its earnings over the past three months. It posted a loss of $2.9 billion.
Intel warned of cuts in April amid mounting competition and slowing demand. Its stock has fallen 33% in the past year.
“There are no more blank checks,” new CEO Lip-Bu Tan told employees.
Intel, once a profitable Silicon Valley company, gained recognition in the 1990s for its microprocessor chips. However, it failed to capitalize on the smartphone boom and struggles with the growing demand for AI chips.
Intel has already let go of 15,000 jobs this year, and it seems like another 10,000 are on the chopping block.
Intel detailed dramatic steps to revive its sagging fortunes, outlining layoffs of 15% of its workforce and scrapping plans to spend tens of billions of dollars on new chip facilities in Europe https://t.co/c39v0Y8C5a
— The Wall Street Journal (@WSJ) July 24, 2025
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