Intel will lay off 20'000 employees
Snapshot: Intel is in the middle of a crisis: One quarter after the other, the company is missing investors' expectations. Now Intel has to take measures in the form of job cuts. Up to 20% fewer workers. That was already clear a few months ago. But only a few expected it to be so extreme. According to Bloomberg, Intel will cut about 20% of all jobs, which could affect about 20,000 people. The announcement should be made at the end of the month. https://www.quicktechnics.com/en/post/intel-will-lay-off-20-000-employees
QuickTechnics
Time to check on some friends
Damn this is nuts
The fed and Biden really spit roasting the semiconductor industry rn
Biden hurts the industry more, his plan to counter China will fail and in the mean time hurt American semiconductor manufacturers so China can compete and win more easily
@meta, can you elaborate?
Is engineering impacted? /s
> The announcement should be made at the end of the month. Meh, if this was a legit leak the market should have reacted by now, but INTC is doing just fine today.
Get woke, go broke
According to Bloomberg where? Bloomberg doesn’t mention anything about 20k employees being laid off. https://www.bloomberg.com/news/articles/2022-10-11/intel-is-planning-thousands-of-job-cuts-in-face-of-pc-slowdown
This means further reliance on TSMC
Damn