Intel is laying off over 15,000 employees and will cut $10 billion in costs
Illustration by Alex Castro / The Verge
Intel’s on a long, long road to recovery, and over 15,000 workers will likely no longer be coming along for the ride. The chipmaker just announced it’s downsizing its workforce by over 15 percent as part of a new $10 billion cost savings plan for 2025, which Intel says will mean a headcount reduction of greater than 15,000 roles. The company currently employs over 125,000 people, so layoffs could be as many as 19,000 people.
Intel will reduce its R&D and marketing spend by billions every year; it will reduce capital expenditures by more than 20 percent this year; it restructure to “stop non-essential work,” and review “all active projects and equipment” to make sure it’s not spending too much.
“This is painful news for me to share. I…
