Intel’s surprising move: Free coffee and tea return after massive cost-cutting
4 months, 2 weeks ago

Intel’s surprising move: Free coffee and tea return after massive cost-cutting

Live Mint  

Intel has announced the return of free coffee and tea at its work sites, reinstating a benefit that was cut last summer as part of the company's efforts to reduce its annual budget by $10 billion, according to an Oregonian report. In a message shared with employees via its internal platform, Circuit, Intel reportedly acknowledged the continued financial challenges but emphasized the importance of these small comforts in supporting workplace culture. While the company is still grappling with significant cost challenges, this move to bring back free coffee and tea reflects an effort to foster a more positive atmosphere for remaining employees. Intel CEO lays out new steps Laying out new steps to cut costs and bolster its chip-making division, CEO Pat Gelsinger in September announced that Intel would separate its chip-manufacturing and design operations.

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Intel CEO Pat Gelsinger's Exit Creates Room For Fresh Deal Discussions
Trending News
3 months, 3 weeks ago

Intel CEO Pat Gelsinger's Exit Creates Room For Fresh Deal Discussions

ABP News  

The sudden departure of Intel CEO Pat Gelsinger expected present a new opportunity for the struggling company to explore potential deal options, including those he previously dismissed during his tenure leading the chipmaker. However, Gelsinger opposed the idea of breaking up the company, focusing instead on his strategy to restore Intel's technological leadership and transform it into a contract manufacturer …

Intel fired 15,000 employees in August, now plans free coffee, tea to boost staff morale
4 months, 2 weeks ago

Intel fired 15,000 employees in August, now plans free coffee, tea to boost staff morale

Firstpost  

After laying off 15,000 employees, reducing reimbursements for internet, phone, and commuting costs, Intel is now planning to bring back free coffee and tea for its staff which were also slashed as part of cost-cutting efforts during mid of this year Intel declares that the free office beverages, including tea and coffee, would be back to workplaces in a bid …

After firing 15,000 employees, Intel brings back free coffee, tea to boost morale
4 months, 2 weeks ago

After firing 15,000 employees, Intel brings back free coffee, tea to boost morale

Hindustan Times  

Intel is planning to bring back free coffee and tea for its staff after several employee perks were slashed as part of cost-cutting efforts during this year. In August, Intel announced that 15,000 workers will be cut from the company either through voluntary separation agreements and layoffs. In August, it announced that 15,000 workers will be cut from the company …

27,000 techies laid off across the globe in August, highest since January 2024
6 months, 3 weeks ago

27,000 techies laid off across the globe in August, highest since January 2024

Deccan Chronicle  

Hyderabad: The layoffs in tech companies has witnessed a surge in August, since January 2024. On August 1, Intel CEO Pat Gelsinger announced plans to cut around 15,000 jobs, representing 15% of its workforce. German chipmaker Infineon announced on August 5 that it would cut 1,400 jobs globally, with an additional 1,400 positions being relocated to countries with lower labor …

Tech Industry Sees Layoffs Surge To 27,000 In August, Highest Since January; Here Are The Details
6 months, 3 weeks ago

Tech Industry Sees Layoffs Surge To 27,000 In August, Highest Since January; Here Are The Details

ABP News  

The tech industry experienced a major increase in layoffs in August 2024, reaching its highest level of job cuts since January of this year. The surge in layoffs is primarily attributed to substantial reductions at prominent industry leaders like Intel and Cisco, which contributed significantly to the overall increase in job losses. Intel Layoffs Intel spearheaded the wave of layoffs …

Intel CEO to pitch board on plans to shed assets, cut costs, source says
6 months, 3 weeks ago

Intel CEO to pitch board on plans to shed assets, cut costs, source says

The Hindu  

Intel CEO Pat Gelsinger and key executives are expected to present a plan later this month to the company’s board of directors to slice off unnecessary businesses and revamp capital spending, according to a source familiar with the matter, as they try to revive the once-dominant chipmaker's fortunes. The plan will include ideas on how to shave overall costs by …

Intel lays off 15,000 employees. CEO says ‘painful but more tough days ahead’
7 months, 3 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, 3 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, 3 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, 3 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 tries to revive its business and compete with rivals
7 months, 3 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 to lay off 235 employees over two weeks in the US
1 year, 3 months ago

Intel to lay off 235 employees over two weeks in the US

Live Mint  

Santa Clara-based IT major Intel Corporation is set to undertake its fifth round of job cuts from December 31, 2023. The company will lay off around 235 employees at its research and development facility in Folsom, Sacramento County over two weeks, as per the Hindustan Times. “Intel is working to accelerate its strategy while reducing costs through multiple initiatives, including …

Twitter, Meta, Amazon and more... Why are tech titans laying off employees?
2 years, 4 months ago

Twitter, Meta, Amazon and more... Why are tech titans laying off employees?

Firstpost  

Big names in the tech industry are letting go of employees in large numbers. As Menlo Ventures partner Matt Murphy explained to Business Insider, “It always happens in cycles like this that sometimes companies don’t do layoffs significantly enough, but rather slow down on hiring and hope that normal churn might rightsize them.” “Coming out of Q3, which was much …

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 set to lay offs employees as it cuts billions of dollars in spending
2 years, 5 months ago

Intel set to lay offs employees as it cuts billions of dollars in spending

India TV News  

Highlights Intel is likely to layoff people from both operations and sales departments Earlier reports stated Intel is planning job cuts that can run in thousands Intel posted $15.3 billion in revenue in Q3, flat sequentially Chip-maker Intel will begin to lay off workers soon as the company plans to drive nearly $3 billion in annual savings in the near …

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 …

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 …

Intel Set to Announce Job Cuts
18 years, 6 months ago

Intel Set to Announce Job Cuts

Firstpost  

Intel is set to announce sweeping job cuts later on Tuesday, the Financial Times said, amid speculation that up to 10 percent of its staff could go. Intel, the world’s biggest microchip maker, is set to announce sweeping job cuts later on Tuesday, the Financial Times said, amid speculation that up to 10 percent of its staff could go. Intel …

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