Intel CEO Pat Gelsinger discusses cost-cutting measures and announces significant job cuts.

Intel CEO Pat Gelsinger discusses cost-cutting measures and announces significant job cuts.

Intel layoffs: Intel layoffs announced that the business expects to save $10 billion by 2025.

New Delhi, 2 August 2024

Intel CEO Pat Gelsinger warned staff that the company is eliminating jobs in order to save money and decrease costs. Pat Gelsinger announced in a note to all employees that the corporation expects to save $10 billion by 2025, resulting in a 15% reduction in the total workforce. Next week, Intel will unveil an enhanced retirement plan for eligible employees, as well as an application process for voluntary departures.
He stated, “This is sad news for me to deliver. I know you’ll find it even more difficult to read. This is an extremely difficult day for Intel, as we are implementing some of the most significant changes in our company’s history.”

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It sounds like Pat Gelsinger is dealing with some tough decisions at Intel, focusing on reducing costs and improving margins amid a challenging financial outlook. His emphasis on honesty, transparency, and respect suggests he’s committed to navigating these difficulties in a way that maintains trust within the company. It’s definitely a difficult position to be in, but prioritizing clear communication and respect can help manage the impact on employees during such times.

He continued: “I believe that how we implement these changes is just as important as the changes themselves, and we will adhere to Intel values throughout this process.”

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“Despite the difficulty of this situation, these adjustments are crucial for advancing our progress and setting the stage for future growth. Please be aware that more challenges may lie ahead,” he noted.

 

TECH&SCIENCE