Intel to Cut Workforce, Retaining 75,000 “Core Employees”

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Man, Intel’s been in a weird spot lately, huh? Rough years for them, what with layoffs popping up like weeds. I mean, just last month, bam — another bombshell: thousands of jobs gone in the US to pivot toward AI or something. Can’t say I didn’t see it coming, but still, ouch.

Oh, speaking of numbers, they just dropped some Q2 earnings news. Not really sunny — they’re trimming down to about 75,000 core-ish employees. If my math’s right, that’s roughly 24,000 folks outta there. Yikes, right?

And those dreams of big, shiny factories in Germany and Poland? Scrapped. So much for thousands of jobs there. It’s like a never-ending game of musical chairs or maybe a bad breakup. You know when you’re planning a big trip and then cancel last minute? Kinda like that, but worse. Because, jobs.

On another note, Costa Rica’s getting downsized too. Operations moving to Vietnam. Funny how they call it “consolidating.” Oh, but they’re leaving some factories running, so not all is doom and gloom there. Little silver lining, maybe?

David Zinsner, the CFO guy, said they’re slowing down in Ohio too. Something about balancing spending with demand — economics 101 kind of talk, I guess. It’s like trying to keep your budget in check when Netflix drops a new show. Hard to do but necessary, I suppose.

This whole consolidation thing? Aims to save them like $17 billion. Yep, that’s a ‘b’ for billion. But they’re still losing money this quarter. Ain’t that a kicker?

No one’s said when the next round of layoffs will hit. It’s like waiting for the other shoe to drop. Suspense no one wanted.

Anyway, Intel’s journey over the years? A real rollercoaster. From tech kings in the 80s and early 2000s to now, where they kind of feel like an underdog. They kinda missed the memo on mobile processors and AI. Meanwhile, Apple, AMD, NVIDIA, and Qualcomm — they were busy scooping up all the goodies.

Fast forward to 2023, and Intel’s got a $7 billion hole. Add that to the $5.2 billion they lost in 2022. Thanks for the heads-up, TechWire. Yet somehow, mobile and AI processors are all everyone talks about now, and Intel’s just… there. Trying to catch up.

Remember those Intel Core Ultra Series 1 AI chips from 2024? Yeah, didn’t quite hit the mark. So they rushed out a Series 2. Gotta love that hustle — or desperation? Who knows.

Oh, and the drama. Former CEO Pat Gelsinger apparently ruffled some feathers at TSMC with comments about Taiwan’s stability. Not smart. TSMC hit back by axing a sweet discount deal. That 40% off on those wafers? Poof, gone. So much for saving on production costs.

Side note: I’ve noticed more PCs rolling with AMD chips these days. Just an observation but feels like a shift, doesn’t it?

So, Intel’s next moves? More AI stuff, maybe more cost-cutting. Hopes pinned on the upcoming Panther Lake and Nova Lake chips. Maybe they bring Intel back in the race? Or not. Time will tell, I guess.