Intel Is Cutting More Than 15,000 Jobs Despite Getting Billions From the US Government

Quick Summary:

The chipmaker, which has fallen behind competitors, is slashing 15 percent of its workforce.

Intel said that its revenues were down 1 percent year-on-year for the second quarter.“We do not take this lightly, and we have carefully considered the impact this will have on the Intel family,” CEO Pat Gelsinger said on an earnings call today.“These are hard, but necessary decisions.

More recently, it has seen Nvidia, a company that started out making graphics chips for gaming, rise to prominence thanks to the importance of its hardware for training AI algorithms.

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Article Details

Author / Journalist: Will Knight

Category: TechnologyEconomy

Markets: United StatesSouth KoreaMexicoTaiwan

Topics: Business Business / Computers and Software

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-01 @ 21:26:10 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: wired.com

Language: English

Article Length: 1069 words

Reading Time: 6 minutes read

Sentences: 46 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Wired

News ID: 21890453

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Official Website: wired.com

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