Intel sharply cuts personnel and restructures operations

QUANG MINH |

Intel chip Group has just announced more details about the plan to cut staff and restructure operations when announcing the second quarter business results.

Previously, in April, many sources said Intel could lay off about 20% of its workforce. However, the company has just said it will only retain about 75,000 employees by the end of 2025, down nearly 1/3 compared to 108,900 people at the end of the previous fiscal year.

This is part of a goal of cutting operating expenses (not according to GAAP) to $17 billion this year and continuing to decrease to $16 billion by the end of 2026. To do that, Intel will also abandon many previously announced expansion projects.

The reduction in human resources and global scale marks a strong shift in Intel's restructuring strategy, showing that the company is ready to give up its expansion ambitions to focus on core operational efficiency.

According to analysts, this move reflects increasing competitive pressure from competitors such as AMD, Nvidia and chipmakers in Asia, in the context of the semiconductor market showing signs of recovery but still fluctuating.

Intel's strong cutting of personnel and cost optimization also reflect the general trend of the global technology industry. In the context of the world economy being unstable, a series of large corporations such as Google, Meta, Amazon and Microsoft have all carried out large-scale layoffs and reviewed investment strategies.

Companies are shifting from the expansion phase to the streamlining phase, focusing on efficiency, key technology and cash flow control, especially in the AI race that is reshaping the landscape of the semiconductor industry.

QUANG MINH
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