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New York: Intel CEO Pat Gelsinger informed employees that the company is cutting jobs in order to save money and reduce costs. In a memo to all employees, Pat Gelsinger revealed that the company plans to deliver $10 billion in savings by 2025 owing to which 15% of the total workforce is being reduced. Intel will announce a enhanced retirement offering for eligible employees and offer an application program for voluntary departures next week.<\/p>\n
He said, \u201cThis is painful news for me to share. I know it will be even more difficult for you to read. This is an incredibly hard day for Intel as we are making some of the most consequential changes in our company\u2019s history.\u201d<\/p>\n
Intel\u2019s costs are too high, margins too low, he said, asserting, \u201cWe need bolder actions to address both \u2013 particularly given our financial results and outlook for the second half of 2024, which is tougher than previously expected.\u201d<\/p>\n
Explaining to employees, Pat Gelsinger said, \u201cThese decisions have challenged me to my core, and this is the hardest thing I\u2019ve done in my career. My pledge to you is that we will prioritise a culture of honesty, transparency and respect in the weeks and months to come.\u201d<\/p>\n
He further said, \u201cI 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.\u201d<\/p>\n
Warning employees of more tough days ahead, he said, \u201cBut as difficult as all of this is, we are making the changes necessary to build on our progress and usher in a new era of growth,\u201d he said.<\/p>\n<\/div>\n
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[ad_1] \u00a0 New York: Intel CEO Pat Gelsinger informed employees that the company is cutting jobs in order to save money and reduce costs. In a memo to all employees, Pat Gelsinger revealed that the company plans to deliver $10 billion in savings by 2025 owing to which 15% of the total workforce is being […]<\/p>\n","protected":false},"author":1,"featured_media":38113,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26],"tags":[],"class_list":["post-38112","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"jetpack_featured_media_url":"https:\/\/thenftimes.com\/wp-content\/uploads\/2024\/08\/Intel-lays-off-15000-employees.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/posts\/38112","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/comments?post=38112"}],"version-history":[{"count":1,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/posts\/38112\/revisions"}],"predecessor-version":[{"id":38114,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/posts\/38112\/revisions\/38114"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/media\/38113"}],"wp:attachment":[{"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/media?parent=38112"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/categories?post=38112"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/tags?post=38112"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}