‘Resize and refocus’ | Intel announces 15,000 layoffs in plan to scrap 'non-essential work'

Intel has announced plans to cut 15,000 jobs, around 15% of its workforce, in a bid to reduce costs and eliminate inefficiencies.

The layoffs come as a part of the chipmaker’s plan to save $10billion in costs in 2025, and follow disappointing financial performance in Q2.

CEO Pat Gelsinger sent a detailed memo to staff Thursday outlining the company’s plans and priorities, indicating difficult times ahead for his workforce.

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“This is painful news for me to share. I know it will be even more difficult for you to read,” he wrote. “This is an incredibly hard day for Intel as we are making some of the most consequential changes in our company’s history.”