Intel to slash 12,000 jobs as it moves away from PCs
8 years, 11 months ago

Intel to slash 12,000 jobs as it moves away from PCs

LA Times  

Giant chipmaker Intel Corp. will slash 12,000 jobs, or about 11% of its workforce, to help offset declining PC sales and reposition itself as a firm focused on cloud computing and smart devices, the company said Tuesday. “We are evolving from a PC company to one that powers the cloud and billions of smart, connected computing devices,” Intel Chief Executive Brian Krzanich said in a statement. Intel has been growing its cloud-computing business -- remote servers that customers can access from anywhere -- which commands higher profit margins than PC chips, said Angelo Zino, an analyst at S&P Global Market Intelligence. News of the job cuts come weeks after Intel announced the departure of two veteran executives: Kirk Skaugen, senior vice president of the Client Computing Group and Doug Davis, general manager of the company’s Internet of Things unit.

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History of this topic

Intel Names Chip Industry Veteran Lip-Bu Tan as Its Next CEO
2 weeks, 3 days ago

Intel Names Chip Industry Veteran Lip-Bu Tan as Its Next CEO

Live Mint  

-- Intel Corp. named Lip-Bu Tan as its next chief executive officer, entrusting a former board member and semiconductor veteran with one of the toughest jobs in the chip industry. Tan, the former head of Cadence Design Systems Inc., is tasked with restoring the fortunes of a pioneering chipmaker that’s become an industry laggard. One of the most glaring challenges: …

Intel’s stock is soaring, but a rescue will be hard to pull off
1 month, 2 weeks ago

Intel’s stock is soaring, but a rescue will be hard to pull off

Live Mint  

The Trump administration has effectively put a buy rating on Intel’s stock. Citing “discussions from the Asia supply chain," the report said Taiwan Semiconductor Manufacturing—better known as TSMC—could become a joint owner of Intel’s manufacturing business following a spinoff while also having charge of running the facilities. Still, Intel’s position as the only U.S.-based chip maker with leading-edge production capabilities …

Intel fourth-quarter revenue tops expectations as investors await new CEO
Trending News
1 month, 4 weeks ago

Intel fourth-quarter revenue tops expectations as investors await new CEO

The Hindu  

Intel on Thursday posted December-quarter results that beat analysts' low expectations, while its forecast for current-quarter revenue missed estimates as the chipmaker grapples with tepid demand for its data center chips and as investors wait for a new CEO. In its quarterly report after the closing bell, Intel said it expects first-quarter revenue of $11.7 billion to $12.7 billion, compared …

Intel’s CEO search in focus as chipmaker set to post lower revenue
2 months ago

Intel’s CEO search in focus as chipmaker set to post lower revenue

Live Mint  

By Arsheeya Bajwa - Intel will face investor scrutiny on its CEO search when it reports quarterly results on Thursday, as the chipmaker stares at another big decline in revenue due to weak PC sales and its shrinking share in the datacenter market. Interim co-CEOs, Michelle Johnston Holthaus and David Zinsner, said last month a spinoff of that business may …

Intel ruled tech. Now it’s in deep trouble
3 months, 3 weeks ago

Intel ruled tech. Now it’s in deep trouble

CNN  

New York CNN — When legendary former Intel CEO Andy Grove wrote his bestseller “Only the Paranoid Survive” in 1996 about how to predict tech inflection points that might undermine a business, the notion that his company might face such a risk was purely theoretical. Shannon Stapleton/Reuters Other rivals, like AMD, also stole market share in the PC business, as …

Intel ruled tech. Now it’s in deep trouble
3 months, 3 weeks ago

Intel ruled tech. Now it’s in deep trouble

CNN  

New York CNN — When legendary former Intel CEO Andy Grove wrote his bestseller “Only the Paranoid Survive” in 1996 about how to predict tech inflection points that might undermine a business, the notion that his company might face such a risk was purely theoretical. Shannon Stapleton/Reuters Other rivals, like AMD, also stole market share in the PC business, as …

Are Intel’s problems too big to fix?
3 months, 3 weeks ago

Are Intel’s problems too big to fix?

Live Mint  

Pat Gelsinger’s quest to save Intel has come to an abrupt end. Much rides on their success as 18A is the final phase of Gelsinger’s plan to have Intel race though five so-called “nodes" in four years. “As the standard-bearer for the company’s ‘five nodes in four years’ guiding mantra, Mr. Gelsinger’s sudden departure leaves us unsure of the strategic …

Intel stock surges on plans to make AI chips for Amazon and to turn foundry into subsidiary
6 months, 1 week ago

Intel stock surges on plans to make AI chips for Amazon and to turn foundry into subsidiary

Associated Press  

Shares of Intel are surging before the market opens Tuesday after the chipmaker said its foundry business would make some custom artificial intelligence chips for Amazon Web Services as it attempts to reinvigorate its business. CEO Pat Gelsinger said in a message to employees late Monday that Intel will create an AI fabric chip for Amazon’s cloud services division at …

Intel shares jump on chip deal with Amazon
6 months, 2 weeks ago

Intel shares jump on chip deal with Amazon

CNN  

New York CNN — Intel’s struggling chip-making business got a boost Monday from a high-profile client: Amazon. Intel Foundry and Amazon Web Services will coinvest in a custom chip design for the latter and “announced a multi-year, multi-billion-dollar framework,” according to a release. “Specifically, Intel Foundry will produce an AI fabric chip for AWS on Intel 18A,” Intel CEO Pat …

Intel shares jump on chip deal with Amazon
6 months, 2 weeks ago

Intel shares jump on chip deal with Amazon

CNN  

New York CNN — Intel’s struggling chip-making business got a boost Monday from a high-profile client: Amazon. Intel Foundry and Amazon Web Services will coinvest in a custom chip design for the latter and “announced a multi-year, multi-billion-dollar framework,” according to a release. “Specifically, Intel Foundry will produce an AI fabric chip for AWS on Intel 18A,” Intel CEO Pat …

Intel: Too big to turn, too vital to fail
7 months, 2 weeks ago

Intel: Too big to turn, too vital to fail

Live Mint  

The chips are down as never before for Intel. Intel is already the biggest fish in the American pond; the company’s current fabs account for about 41% of the country’s 300 mm wafer production capacity—the type of chip production most commonly used in key market segments—according to market research firm TechInsights. Intel’s data center revenue is projected to hit $12.6 …

Intel lays off 15,000 employees. CEO says ‘painful but more tough days ahead’
7 months, 4 weeks ago

Intel lays off 15,000 employees. CEO says ‘painful but more tough days ahead’

Hindustan Times  

Intel CEO Pat Gelsinger informed employees that the company is cutting jobs in order to save money and reduce costs. Intel will announce a enhanced retirement offering for eligible employees and offer an application program for voluntary departures next week. This is an incredibly hard day for Intel as we are making some of the most consequential changes in our …

Intel Layoffs: Chipmaker To Fire Over 15,000 Employees Amid Cost Cutting Measures
7 months, 4 weeks ago

Intel Layoffs: Chipmaker To Fire Over 15,000 Employees Amid Cost Cutting Measures

ABP News  

Intel Layoffs: The tech firm Intel will be laying off over 15,000 employees in an effort to overcome the losses the company has been experiencing. Additionally, it will reduce capital expenditures by over 20 per cent this year, restructure operations to eliminate non-essential activities, and review all ongoing projects and equipment to ensure spending remains in check. In the press …

Intel to lay off 15% of its workforce, cut $20 billion in costs
7 months, 4 weeks ago

Intel to lay off 15% of its workforce, cut $20 billion in costs

Firstpost  

Intel CEO Gelsinger emphasised the need to align Intel’s cost structure with a new operating model to improve margins and better position the company for future growth, especially as it faces a challenging outlook for the second half of 2024 CEO Gelsinger has noted that while investments in the AI PC market may pressure profit margins in the short term, …

Intel to lay off 17,500 employees, suspend dividend in turnaround plan; stock plunges
7 months, 4 weeks ago

Intel to lay off 17,500 employees, suspend dividend in turnaround plan; stock plunges

Live Mint  

Intel share price plunged 20% in extended trade, losing more than $24 billion in market value, after the chipmaker announced job cuts and suspension of its dividend. Intel said it would cut more than 15% of its workforce, around 17,500 people, and suspend its dividend starting in the fourth quarter amid plans of a turnaround focused on its money-losing manufacturing …

Chipmaker Intel to cut 15,000 jobs as it tries to revive its business and compete with rivals
7 months, 4 weeks ago

Chipmaker Intel to cut 15,000 jobs as it tries to revive its business and compete with rivals

LA Times  

Intel, based in Santa Clara, Calif., is also suspending its stock dividend as part of a broader plan to cut costs. “Simply put, we must align our cost structure with our new operating model and fundamentally change the way we operate,” he wrote in the memo published on Intel’s website. “Intel’s announcement of a significant cost-cutting plan including layoffs may …

Chipmaker Intel to cut 15,000 jobs as tries to revive its business and compete with rivals
7 months, 4 weeks ago

Chipmaker Intel to cut 15,000 jobs as tries to revive its business and compete with rivals

Associated Press  

Chipmaker Intel says it is cutting 15% of its huge workforce — about 15,000 jobs — as it tries to turn its business around to compete with more successful rivals like Nvidia and AMD. “Intel’s announcement of a significant cost-cutting plan including layoffs may bolster its near-term financials, but this move alone is insufficient to redefine its position in the …

Intel Layoffs: Tech Firm Plans To Fire Thousands Of Employees, Says Report
7 months, 4 weeks ago

Intel Layoffs: Tech Firm Plans To Fire Thousands Of Employees, Says Report

ABP News  

Intel Layoffs: Intel reportedly plans to cut thousands of jobs as part of a cost-cutting strategy to support the critical initiative of recovering from recent earnings declines and market share losses. Intel’s Chief Executive Officer Pat Gelsinger is investing heavily in research and development to improve the firm’s technology and restore its leading position in the semiconductor industry. Under Gelsinger's …

Intel plans to cut thousands of jobs to finance recovery: Report
7 months, 4 weeks ago

Intel plans to cut thousands of jobs to finance recovery: Report

The Hindu  

Intel plans to cut thousands of jobs to finance a recovery and cope with eroding market share, Bloomberg News reported on Tuesday, citing people familiar with the matter. CEO Pat Gelsinger has initiated a turnaround to regain the company's competitive edge, focusing on revitalizing its manufacturing capabilities, investing in advanced chip technologies, and expanding into new markets. In October 2022, …

Intel Says Many PC Brands Using Its New AI-enabled Chip, Wants People To Upgrade PCs
1 year, 3 months ago

Intel Says Many PC Brands Using Its New AI-enabled Chip, Wants People To Upgrade PCs

News 18  

-Intel on Thursday said that dozens of personal computer makers are using its newest chip, as the company and its customers try to entice consumers to upgrade their machines for a new era of chatbots. At a press event in New York, Intel said the new offering will be available in laptops from Dell Technologies, Microsoft, Lenovo Group and others …

Intel Sees More Losses as PC Makers Sharply Cut Chip Buying In 2023
2 years, 2 months ago

Intel Sees More Losses as PC Makers Sharply Cut Chip Buying In 2023

News 18  

-Intel Corp said it expects to lose money in the current quarter, surprising investors with a bleaker-than-expected outlook for both the PC market and slowing growth in its key data center division. "We expect some of the largest inventory corrections literally that we've ever seen in the industry taking place that's affecting the Q1 guide in a meaningful way," Intel …

Intel splits graphic chips unit into two
2 years, 3 months ago

Intel splits graphic chips unit into two

The Hindu  

Intel Corp. is splitting its graphic chips unit into two, the company said on Wednesday, as it realigns the business to better compete with Nvidia Corp. and Advanced Micro Devices. The consumer graphics unit will be combined with Intel's client computing group, which makes chips for personal computers, while accelerated computing teams will join its data center and artificial intelligence …

Tech job cuts - including mass layoffs at Meta and Twitter - are accelerating
2 years, 4 months ago

Tech job cuts - including mass layoffs at Meta and Twitter - are accelerating

Daily Mail  

A slew of tech companies have announced cost-cutting measures, with Amazon, Apple and Google-parent Alphabet all announcing hiring slowdowns or freezes. Twitter laid off half its workforce across teams ranging from communications and content curation to product and engineering Musk previously said there was no other choice but to impose mass layoffs as the company loses hundreds of millions of …

Intel to slash several jobs amid PC market slowdown
2 years, 5 months ago

Intel to slash several jobs amid PC market slowdown

The Hindu  

Intel is cutting several jobs after a slowdown in the PC market sends the global chipmaker and PC vendors reeling, report said. Besides the PC vendors themselves, one of the companies most affected by the decline in the PC market is Intel, which is now cutting thousands of jobs to reduce losses in its revenue, 9to5 Mac reported. Intel losing …

Intel expands developer cloud to enable customers to try out new chips
2 years, 6 months ago

Intel expands developer cloud to enable customers to try out new chips

The Hindu  

Intel Corp. plans to expand the Intel Developer Cloud to allow customers to try a range of new chips before they hit the market, a move it hopes will lure more application developers to use its processors, the company said on Tuesday. "In some ways Intel is the biggest software company that you've never heard of," said Nick McKeown, who …

Intel To Increase Chipset Prices Due To Rising Costs: What It Means For You
2 years, 8 months ago

Intel To Increase Chipset Prices Due To Rising Costs: What It Means For You

News 18  

-Intel Corp said on Thursday it has started informing customers of its plan to raise prices for many of its chip products due to rising costs, a move that the company had first hinted in its first-quarter earnings call on April 28. The price increases could come into effect in autumn and the percentage increases are likely to range from …

Intel shows research for packing more computing power into chips beyond 2025
3 years, 3 months ago

Intel shows research for packing more computing power into chips beyond 2025

The Hindu  

Research teams at Intel Corp on Saturday unveiled work that the company believes will help it keep speeding up and shrinking computing chips over the next ten years, with several technologies aimed at stacking parts of chips on top of each other. While Intel CEO Pat Gelsinger has laid out commercial plans aimed at regaining that lead by 2025, the …

Intel reiterates chip supply shortages could last several years
3 years, 9 months ago

Intel reiterates chip supply shortages could last several years

The Hindu  

Intel Corp's CEO said on Monday it could take several years for a global shortage of semiconductors to be resolved, a problem that has shuttered some auto production lines and is also being felt in other areas,including consumer electronics. "But while the industry has taken steps to address near term constraints it could still take a couple of years for …

Intel Wants to Revive US Chipmaking—but It Has to Catch Up First
55 years, 2 months ago

Intel Wants to Revive US Chipmaking—but It Has to Catch Up First

Wired  

Intel announced on Tuesday that it plans to spend $20 billion to build new chipmaking factories. “It's good news for the United States that Intel is doubling down on its manufacturing business,” says Saif Khan, a research fellow at Georgetown University’s Center for Security and Emerging Technology. Intel​’s CEO, Pat Gelsinger, said on Tuesday that the company would spend ​$20 …

In $20bn push, Intel hopes to make US chip-making great again
4 years ago

In $20bn push, Intel hopes to make US chip-making great again

Al Jazeera  

Intel Corp says it will greatly expand its advanced chip manufacturing capacity as the United States-based technology giant’s new chief executive announced plans to spend as much as $20bn to build two factories in Arizona and open its plants to outside customers. In an interview with the Reuters news agency, Gelsinger said Intel has “fully resolved” its problems with its …

Intel investing $20 billion in new US chipmaking plants as part of turnaround plan
4 years ago

Intel investing $20 billion in new US chipmaking plants as part of turnaround plan

CNN  

New York CNN Business — Intel CEO Pat Gelsinger has only been on the job for about a month. Intel unveiled several major initiatives — including a $20 billion investment in two new US chipmaking facilities — aimed at reasserting its position as the undisputed leader of the semiconductor industry, a claim many experts have said the company lost in …

Here’s what Intel’s new CEO must do to turn the company’s fortunes around
4 years, 2 months ago

Here’s what Intel’s new CEO must do to turn the company’s fortunes around

CNN  

New York CNN Business — Pat Gelsinger has a massive task ahead of him when he takes over as Intel CEO next month. “So the competition will continue to gain share at Intel’s expense.” Manufacturing challenges Intel is known for manufacturing its own chips — a distinction that was seen as a competitive advantage until the company fell off its …

Intel says production of new data centre chips set to ramp up in first quarter
4 years, 2 months ago

Intel says production of new data centre chips set to ramp up in first quarter

The Hindu  

Intel Corp said on Monday it would ramp up the production of a new data centre chip in the first quarter and that a new generation of chipmaking technology will become a key part of its output this year. Intel, the biggest maker of central processor chips for both PCs and for the data centre servers that power the internet, …

Intel has few good options as investor demands break-up
4 years, 2 months ago

Intel has few good options as investor demands break-up

The Hindu  

Activist investor Daniel Loeb wants Intel Corp to consider splitting its huge chip manufacturing operations from its chip design and development business, but analysts say doing so could weaken both businesses unless the firm can form a joint venture. In the interim, it would likely remain dependent on Intel's design operations for business - at precisely the time when Intel …

Intel ready to work with hedge fund
4 years, 3 months ago

Intel ready to work with hedge fund

The Hindu  

Intel's shares rose sharply Tuesday after the computer chip giant said it was prepared to work with a hedge fund on changes to its business to boost shareholder value. "Intel Corporation welcomes input from all investors regarding enhanced shareholder value," the California tech giant said. Third Point's letter said Intel should consider outsourcing its manufacturing operations to keep pace with …

Intel’s stock plunges as work on new computer chip bogs down
4 years, 8 months ago

Intel’s stock plunges as work on new computer chip bogs down

Associated Press  

SAN RAMON, Calif. — Intel is falling further behind in the race to build faster and more powerful computer chips, a nagging problem that may force the Silicon Valley pioneer to seek help from other manufacturers as it scrambles to catch up in the technological arms race. The unexpected snag means Intel’s 7-nanometer processing technology won’t be ready until the …

Intel sold artificial intelligence processor chips worth $1 billion in 2017
6 years, 7 months ago

Intel sold artificial intelligence processor chips worth $1 billion in 2017

Firstpost  

As PC sales have stagnated, Intel has increasingly been depending on its sales to data centers. Intel on 8 August said it sold $1 billion of artificial intelligence processor chips in 2017, the first time the world’s second-largest chipmaker disclosed revenue from the fast-growing computing segment that has fueled sales expansions at rivals such as Nvidia Corp. As PC sales …

Intel announces a new line of microprocessors for data centers in India
7 years, 8 months ago

Intel announces a new line of microprocessors for data centers in India

Firstpost  

The new Xeon Scalable Processor chips by Intel will provide support for artificial intelligence and driverless cars. Intel Corp on 11 July announced a new line of microprocessors for data centers, setting up a battle with Advanced Micro Devices and others for the lucrative business of supplying the chips that power cloud computing. The new Xeon Scalable Processor chips provide …

Intel Looks to a New Chip to Power the Coming Age of AI
8 years, 4 months ago

Intel Looks to a New Chip to Power the Coming Age of AI

Wired  

Microsoft researchers recently built an artificially intelligent system that seems to recognize conversational speech as effectively as a human. "This really is the industry's first purpose-built silicon for artificial intelligence," says Intel corporate vice president Jason Waxman, who oversees the chips the company sells for big data centers like those operated by Google and Microsoft, explaining why the chip maker …

Intel raises revenue forecast on signs of PC market rebound
8 years, 6 months ago

Intel raises revenue forecast on signs of PC market rebound

Live Mint  

New York: Intel Corp. raised its forecast for third-quarter sales Friday, citing a recovery in the computer market. In April, Intel said it was cutting 12,000 jobs, or 11% of its workforce, as chief executive officer Brian Krzanich shifts the company’s focus to new segments such as chips for wireless devices. Now Intel is seeing signs of “replenishment of PC …

Intel Reinvents Itself to Stay King in a Changing World
8 years, 7 months ago

Intel Reinvents Itself to Stay King in a Changing World

Wired  

Intel is bigger than all but 50 other U.S. companies, and that's because of something called the CPU. They also handle most of the calculations inside the millions upon millions of computer servers that run Internet services like Google Search, Facebook, Amazon, and Twitter. Last summer, Intel paid $16.7 billion to acquire Altera, a company whose programmable chips, known as …

Left Behind In The Mobile Revolution, Intel Struggles To Innovate
8 years, 10 months ago

Left Behind In The Mobile Revolution, Intel Struggles To Innovate

NPR  

Left Behind In The Mobile Revolution, Intel Struggles To Innovate Enlarge this image toggle caption Laura Rauch/AP Laura Rauch/AP Intel was once known for its success in branding personal computers with microprocessors, a technology that fueled the digital revolution. NPR's Audie Cornish talks to Walter Isaacson, author of The Innovators, about Intel's struggles amid the waning popularity of PCs and …

Intel to slash up to 12,000 jobs
8 years, 11 months ago

Intel to slash up to 12,000 jobs

The Hindu  

Intel, the world’s largest microprocessor maker, will shed up to 12,000 jobs worldwide in a massive restructuring effort to reduce its dependence on the personal computer market which is witnessing sluggish growth. I am confident that we’ll emerge as a more productive company with broader reach and sharper execution,” said Intel chief executive Brian Krzanich in a statement. Intel’s massive …

No job cuts for Intel businesses in India: Top executive
8 years, 11 months ago

No job cuts for Intel businesses in India: Top executive

India TV News  

New Delhi: India will not see any job cuts from Intel at the moment and the chip-making giant will only invest further in the country to support the "Digital India" intiative, a top Intel executive has said. "I hope the company grows in India and I suppose they are not making any job cuts here," Thaine Creitz, director of consumer …

Intel shares could rise 25 percent in next year: Barron's
8 years, 11 months ago

Intel shares could rise 25 percent in next year: Barron's

Firstpost  

Intel Corp’s shift to higher-growth businesses such as server chips and embedded chips for cars could drive a 25 increase in its shares in a year, according to a report on Sunday in the financial publication Barron’s. Intel has struggled to grow as demand for personal computer chips has dried up, Barron’s said, but growth in the company’s data center …

Intel May Cut Thousands of Jobs by End of 2016
8 years, 11 months ago

Intel May Cut Thousands of Jobs by End of 2016

The Quint  

After announcing the departure of its two top executives last week, US-based electronics chipmaker Intel is reportedly preparing to cut thousands of jobs across its business units by the year-end, a media report said. The planned downsizing could begin soon after Intel reports its first-quarter financial results on April 19, though sources say timing and specifics remain fluid, the report …

Eying the Future Data Center, Intel Buys Chip Maker Altera
9 years, 9 months ago

Eying the Future Data Center, Intel Buys Chip Maker Altera

Wired  

Intel has agreed to acquire chip maker Altera for $16.7 billion, embracing a breed of microprocessor that represents the future of the massive data centers that underpin the world's online services. Because these chips don't require as much power or as much space as the microprocessors that have traditionally driven the world's internet services, many believe they will become increasingly …

Intel Makes Biggest Bet In Its History
9 years, 9 months ago

Intel Makes Biggest Bet In Its History

NPR  

Intel Makes Biggest Bet In Its History Enlarge this image toggle caption Paul Sakuma/AP Paul Sakuma/AP The chipmaker Intel is buying a company that makes. The Wall Street Journal describes the deal as part of a "consolidation wave" in the semiconductor industry "as companies search for new sources of revenue growth." Sponsor Message Intel says in a statement that the …

Intel cuts revenue forecast as desktop demand weakens
10 years ago

Intel cuts revenue forecast as desktop demand weakens

Live Mint  

Intel Corp. slashed nearly $1 billion from its first-quarter revenue forecast as small businesses put off upgrading their personal computers, sending the chipmaker’s shares down more than 5%. add_main_imageFewer companies than Intel had expected replaced desktop PCs running on outdated Microsoft operating systems, leading to weak demand for its chips. “The macro environment is not robust enough for people to …

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