Sure, let’s dive into this.
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Been a bumpy ride for Intel lately, right? Like, every time you turn around, boom — more layoffs. Just last month, boom again — thousands of U.S. jobs gone, all in the name of some AI restructuring. Crazy times.
So fast forward to today, and Intel drops its Q2 earnings. Yeah, they’re trimming down to 75,000 “core employees.” The Verge did some number-crunching (because who else?), and that’s nearly 24,000 folks out the door. Ouch.
They’re even shelving plans for those big, shiny fabs in Germany and Poland. Think of all the jobs that were gonna create. Nope, not happening — at least not now.
Oh, and there’s this twist with Costa Rica. Moving some ops to Vietnam but not shutting down completely in Costa Rica. Kind of a mixed bag, honestly — some job cuts, some stays.
The CFO, Dave Zinsner, chimed in with something about slowing things in Ohio, too. Spending’s gotta match up with what people want, he says. Ever feel like they’re just trying to keep their heads above water?
The plan is to shave off $17 billion in spending next year. A real head-scratcher though — they’re still losing money. Can anyone say wild rollercoaster?
Wondering when more cuts are coming? Yeah, join the club. It’s like looking at a cloudy crystal ball.
So what’s Intel up to? Used to be the big cheese in chips back in the day. Then kinda got caught napping while Apple, AMD, NVIDIA, and Qualcomm zipped ahead in the new tech race. You know, cool things like mobiles and AI. Intel’s been scrambling to catch up, and boy does it burn through cash — $7 billion lost just last year. Oof.
Now the chip market’s buzzing with mobiles and AI, and Intel’s chasing the train. They even pushed out the Core Ultra Series 2 in a rush after the first series kinda flopped. Trying to make things right in a hurry.
Oh, here’s a fun tidbit: Pat Gelsinger, the ex-CEO, ticked off TSMC — one of the big wigs in chip manufacturing. Said something about not putting eggs in one basket, and TSMC pulled a sweet deal that left Intel in a pinch. Forty percent discount on wafers, gone. Talk about stepping on a rake.
Also, casually noticed more PCs going AMD this year. Shift in the winds, maybe?
What’s next for Intel? With their AI plans and slimming down, they’re trying to keep up without bleeding money. But who knows? More layoffs, scrapped projects — anything’s possible.
Fingers crossed for those Panther Lake and Nova Lake chips they’re banking on. Let’s see if they can turn the tide with the new tech lineup.
