A close-up photo showing an Intel computer circuit board displayed in Duesseldorf, Germany, Jan. 4, 2018. Sascha Steinbach, EPA-EFE/File

Intel

Agence France-Presse

<div><span class="fr-img-caption fr-fic fr-dib" style="width:950px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/1722571512335intel.jpg" style="width:950px" class="fr-fic fr-dib" alt="A close-up photo showing an Intel computer circuit board displayed in Duesseldorf, Germany, Jan. 4, 2018. Sascha Steinbach, EPA-EFE/File"/><span class="fr-inner" style="text-align:left"><span id="isPasted" style="color:rgb(51, 51, 51);letter-spacing:normal;orphans:2;text-align:left;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:pre-wrap;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;display:inline !important;float:none">A close-up photo showing an Intel computer circuit board displayed in Duesseldorf, Germany, Jan. 4, 2018.</span><em style="color:rgb(51, 51, 51);letter-spacing:normal;orphans:2;text-align:left;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:pre-wrap;text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial"> Sascha Steinbach, EPA-EFE/File</em></span></span></span></div><p>SAN FRANCISCO -- US chip maker Intel said Thursday it will slash more than 15 percent of its workforce as it streamlines operations.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">The plan to cut approximately $20 billion in expenses this year came as Intel reported a loss of $1.6 billion in the recently ended quarter.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">&quot;Our Q2 financial performance was disappointing, even as we hit key product and process technology milestones,&quot; Intel chief executive Pat Gelsinger said in an earnings release.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">&quot;Second-half trends are more challenging than we previously expected.&quot;</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">Second quarter earnings were negatively affected by &quot;headwinds&quot; to the ramp-up of Intel&#x27;s artificial intelligence PC product and unused capacity at its facilities, according to chief financial officer David Zinsner.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">&quot;By implementing our spending reductions, we are taking proactive steps to improve our profits and strengthen our balance sheet,&quot; Zinsner said.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">Intel reported having 124,800 employees at the end of last year, meaning the layoffs could hit about 18,000 positions.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">In June, Intel announced it was halting the expansion of a major factory project in <a href="https://news.abs-cbn.com/business/2024/6/10/intel-suspends-expansion-of-factory-plan-in-israel-757">Israel</a>, which was going to pump an extra $15 billion towards a chip plant.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">Intel said at the time that &quot;managing large-scale projects, especially in our industry, often involves adapting to changing timelines.&quot;</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">&quot;Decisions are based on business conditions, market dynamics and responsible capital management,&quot; the US-based company added.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">The belt-tightening came just a month after Intel struck a defiant tone in the face of strong challenges from rivals Nvidia, AMD and Qualcomm, unveiling technologies it said would lead the artificial intelligence revolution.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">For decades, Intel has dominated the market for the chips that run everything from laptops to data centres. But in recent years, its competitors -- especially Nvidia -- have soared ahead on specialized AI processors.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">During a keynote speech at Taiwan&#x27;s Computex expo, Gelsinger introduced Intel&#x27;s latest Xeon 6 processors for servers, and shared more details about its next-gen Lunar Lake chips for AI PCs.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">&quot;AI is driving one of the most consequential eras of innovation the industry has ever seen,&quot; Gelsinger said.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">&quot;The magic of silicon is once again enabling exponential advancements in computing that will push the boundaries of human potential and power the global economy for years to come.&quot;</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">Gelsinger said Intel&#x27;s latest equipment provides the best available mix of performance, energy efficiency and affordability.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">His presentation followed earlier keynote speeches by Nvidia boss Jensen Huang, AMD CEO Lisa Su and Qualcomm&#x27;s Cristiano Amon -- and they were replete with claims and counterclaims about which firm&#x27;s products were the best for AI.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">Microsoft in June unveiled its Copilot+ AI PCs, which will have artificial intelligence features built into its Windows operating system.</p><p style="margin:1em 0px;padding:0px;border:0px;-webkit- text-size-adjust:100%;box-sizing:border-box;line-height:1.3;letter-spacing:normal;color:rgb(0, 0, 0);orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial">Along with Microsoft, the features will be added by some of the world&#x27;s biggest computer manufacturers, including Dell, HP, Samsung and Lenovo, offering AI capabilities on the device itself, not just through the internet.</p><div><span id="isPasted" style="color:rgb(0, 0, 0);letter-spacing:normal;orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;display:inline !important;float:none">AI computers are expected to be 80 percent of the PC market by 2028, Intel said, citing the Boston <span id="isPasted" style="color:rgb(0, 0, 0);letter-spacing:normal;orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;display:inline !important;float:none">Consulting Group.</span></span></div><div><span id="isPasted"><span id="isPasted"><a href="https://news.abs-cbn.com/business/2024/3/21/biden-unveils-almost-20-bn-for-intel-to-boost-us-chip-production-944">Biden unveils almost $20 bn for Intel to boost US chip production</a></span></span></div><div><span id="isPasted"><span id="isPasted"></span></span><strong>RELATED STORY:</strong></div><div><ivs-player data-ivs-key="e8c22c015ca9eafa76f1e3edfa03c603" data-ivs-spid="3001339" data-ivs-vid="3055778"></ivs-player></div><script src="https://player.ivideosmart.com/ivsplayer/v4/dist/js/loader.js"></script><div><br/></div>

<p>US chip maker Intel said Thursday it will slash more than 15 percent of its workforce as it streamlines operations.</p>

US chip maker Intel said Thursday it will slash more than 15 percent of its workforce as it streamlines operations.

Intel says it will slash workforce to cut costs | ABS-CBN

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Intel says it will slash workforce to cut costs

Intel says it will slash workforce to cut costs

Agence France-Presse,

Glenn Chapman

Published Aug 02, 2024 12:24 PM PHT

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