Technology giants Intelone of the largest manufacturers of Microchips globally, will lay off more than 15% of its workforce, affecting about 17,500 staff Whole world.
This staff reduction, which will be completed by the end of 2024, is due to a restructuring plan with which the US company will also suspend Dividend quarterly of Shareholders will carry out a reduction of more in the fourth quarter Cost Estimated at $10 billion.
With this labor adjustment, Intel will have the funds necessary to change the course with which it wants to increase manufacturing Semiconductors Of artificial intelligence (AI) and thus correct its competitive disadvantage in a business in which it is lagging behind its main competitors, especially the Taiwanese colossus TSMCis the largest manufacturer of Chips By the contract of the world.
“This is an incredibly difficult day for Intel as we make some of the most consequential changes in our company’s history,” he said. Patrick GelsingerIntel CEO said in a letter to employees.
iX Workshop: Programming More Productively with Github Copilot and ChatGPTThere is a lot of competition in AI
the market of Microprocessors Important for advanced Technology Industry. However, those made by Intel work like electronic brains Laptopwhose demand fell last year, while the demand for those used in the sector is increasing Hey to counter the commercial and investment fever that has been unleashed silicon Valley,
The growing interest in these technologies has intensified competition among chip companies, a market that also includes large corporations nvidia -currently 3rd most valuable in the world, amd one of two Hand. Most of these companies design the chips that TSMC makes. Unlike them, Intel does both. One of the company’s main objectives is to build more factories and establish itself as an alternative to the Taiwanese factory located on an island. China claims its own. It matches the desire of the mission USA To reduce its reliance on chips from Taiwan, which explains why Intel has received $8.5 billion in subsidies from the Taiwanese government so far. Joe Biden,
Valuations drop
In a statement released on Thursday, the Santa Clara (California)-based company forecast lower revenues than market estimates in the third quarter of the year, a drop attributed to a drop in spending on traditional semiconductors. This has made them action Extended operations declined by 20%. Since the beginning of 2024, the decline has been about 40%, losing a million dollars in its market value.
Decentralized DevOps: Autonomy and responsibility for development teamsIn recent months, Intel has suffered other setbacks such as being fined 376 million euros European Union For China’s decision to prevent monopolistic abuse of the chip market or its public use technology,
