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Intel says "painful" decision to cut 15,000 jobs is one of the "most consequential changes in its history"
Intel is cutting 15,000 jobs as part of a swathe of "significant actions to reduce costs" and save $10m in 2025. CEO Pa…
CEO Pat Gelsinger said those 15,000 jobs represent 15 percent of its global workforce and come after the computing megacorp reported no profits from the last financial quarter. Watch on YouTube In a statement, Gelsinger pointed out that four years ago – at the height of the pandemic – Intel's annual revenue was $24bn higher than it is today, despite its workforce swelling by 10 percent across the same period. As part of its efforts to save money, the company will also enhance its retirement and voluntary exit procedures in a bid to reduce its headcount.
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