Competition with Nvidia
Austerity measures: Thousands of jobs to be cut at Intel
According to a media report, the struggling chip company Intel wants to turn things around with a tough austerity program. The company is therefore planning to cut thousands of jobs.
The "Bloomberg" agency wrote this on Tuesday, citing people familiar with the matter. The company initially declined to comment on the report when asked.
Intel CEO Pat Gelsinger had already set a savings target of three billion dollars (2.77 billion euros) more than a year ago, which is to be achieved through "personnel measures", among other things. At the time, he did not provide any information on the extent of the reduction of the almost 125,000 jobs.
The chip company is struggling with weakening sales of its processors for PCs and classic servers. At the same time, it lacks a competitive special chip for artificial intelligence (AI) to compete with the global market leader in this field, Nvidia.
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