Intel to Trim Workforce Down to 75,000 “Core Employees”

Sure, here’s a more human-like, raw version of the article:

Okay, so here’s the thing with Intel lately—it’s been rough. Like, really rough. Imagine losing jobs like it’s a scene from a bad movie. It was just last month when they said, “Hey, we’re axing thousands of US jobs.” Why, you ask? AI stuff. Everyone’s about AI now.

Today, with their Q2 earnings out, Intel’s like, "Guess what? We’re cutting down to 75,000 core employees." Yeah, do the math—around 24,000 jobs are going poof. The Verge crunched those numbers, not me, so if it’s wrong—blame them. And I mean, they were planning these huge fancy factories in Germany and Poland, which felt like a "job dreamland," but nope. That’s getting canned, too.

And oh! Before I forget—there’s this bit about Costa Rica. So, Intel’s going to shove operations to Vietnam. But, they’re not completely shutting factories there, so, some folks might still have jobs?

David Zinsner, CFO guy, yaps about Ohio too. Apparently, everything’s slowing down in construction-town to save money. Right, 17 billion bucks saved, they say. But losses are still hitting them, like, ouch. Next layoffs? Who knows.

Which brings me to this—Intel, what’s going on? If you fell off the news train, they were top dogs in chips back in the day. Remember those? Then they got all comfy and missed the “mobile chip” train. I mean, Apple and the gang were running circles around them. Now, they’re scrambling like “Oh no, let’s catch up,” throwing money everywhere.

2023, they reported these massive $7 billion losses. And take a guess how much before that? Yup, $5.2 billion in ’22. Thanks, TechWire, for rubbing salt in the wound.

Mobile chips, AI, blah blah… everyone wants them. Intel? Still trying to figure it out. Their Series 1 AI chips were kinda meh, so they push Series 2 out real fast. Too fast? Probably.

And oh boy, their ex-CEO Pat Gelsinger—talk about foot in mouth. He ticked off TSMC, who pretty much own the chip-making scene. Something about all eggs, Taiwan, and baskets. Result? TSMC pulled a sweet deal, hiking costs for Intel. Ouch, again.

I swear more PCs are going AMD now. Feels like everyone’s ditching Intel processors. Weird, right?

But, hey, where do they go from all this chaos? They’re downsizing, restructuring. Could be more layoffs if things don’t pan out. Big hopes for Panther Lake and Nova Lake chips. Let’s see if they can turn this Titanic around.

Fingers crossed for them, I guess.