Intel cuts thousands of jobs

Recent slumps in earnings and market share losses are leading chipmaker Intel to slash thousands of jobs , according to a story published July 30 by Bloomberg.

According to the post, Intel, with a current staff of around 110,000 employees, is planning to cut its workforce as a strategy to cut costs and revive its market position.

Intel once had locations in Boise and Idaho Falls, though the company website doesn't show any active locations within the state currently.

The Bloomberg story stated that Intel CEO Pat Gelsinger initiated sizable investments in research and development focused on increasing its technology capabilities. The strategy is also focused on making semiconductors for companies other than Intel’s traditional laptop and desktop computer chips, a market share that is struggling to keep up with competitors Advanced Micro Devices and Nvidia.

One staffing shift that illustrates Intel’s new strategy is the hiring of Naga Chandrasekaran as the company’s chief global operations officer, a position which oversees manufacturing. Chandrasekaran previously worked for Boise-based Micron Technology.

Intel reduced its workforce once before in 2023 by 5%, according to the report. There was no word on when layoffs would be announced.

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