Intel announces workforce reductions and cost savings
Intel is reducing its workforce by over 15 percent, which means more than 15,000 job cuts from its current 125,000 employees. This action is part of a broader $10 billion cost-saving plan set for 2025. As part of this strategy, the company plans to cut its research and development (R&D) and marketing budgets by billions annually through 2026, reduce capital expenditures by more than 20 percent this year, and restructure its operations to eliminate non-essential work. Additionally, Intel will review all active projects and equipment to ensure that resources are allocated efficiently.