Suspense Crime Sach Ka Dam
The giant semiconductor company Intel will lay off thousands of its employees. The company announced the layoffs on Thursday. It said it will lay off 15 percent of its total employees.
The jobs of so many Intel employees are at risk
Intel is incurring losses in its manufacturing business. The company is trying to recover from it. As part of its efforts to recover, Intel has announced several measures, including layoffs. The company’s layoff plan will affect the jobs of about 17,500 employees, which is equal to 15 percent of its total employees.
Intel expects earnings to remain low
Intel has also announced it to stop dividends from the fourth quarter to improve its financial position. In fact, in the third quarter, the company feels that its earnings will be less than the market’s estimates. Currently, spending on traditional data center semiconductors is decreasing worldwide. Intel was the largest company in terms of those traditional semiconductors. Now the focus has increased on AI semiconductors, in which Intel is far behind its competitors.
Layoffs will happen by the end of this year
The total number of employees at Intel is more than 1 lakh right now. As per the data available till June 29, the number of employees of Intel was 1,16,500. This does not include the number of employees of some of Intel’s subsidiary companies. Intel says that the proposed layoffs will be completed by the end of this year. This means that the affected employees will lose their jobs within the next 5 months.
Due to this, Intel’s condition worsened
Intel is doing this layoff at a time when competing semiconductor companies like Nvidia and AMD are making rapid progress. Nvidia has made tremendous progress, especially by riding on AI. Now Nvidia is counted among the world’s biggest companies along with giants like Apple and Microsoft. At the same time, Intel, which is stuck on traditional semiconductors, is now facing challenges.
