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Intel Continues Tech Layoffs with New Round of Sales and Marketing Cuts

Intel has begun a new round of layoffs in its sales and marketing division, continuing the trend of workforce reductions in the tech industry.

The company confirmed the layoffs to CRN, but did not disclose the number of employees affected. A spokesperson for Intel said the layoffs are part of a restructuring effort that will include a new operating model for profitability.

The layoffs come as Intel is facing a number of challenges, including rising competition from rivals like AMD and Nvidia, as well as delays in its next-generation chip manufacturing process.

Intel CEO Pat Gelsinger said in October that the company plans to reduce its operating costs by $10 billion by 2025. The company expects its operating losses to peak in 2024 as it completes its five-year, four-node lithography plan.

“The Intel sales and marketing organization is being realigned to support the company’s strategy and better serve customers,” an Intel spokesperson said.

Intel said it incurred $7 billion in operating losses in its product design group last year. The company’s new operating model is expected to lead to increased profitability, efficiency, and savings.

 

Additional Information:

The layoffs are part of a broader restructuring effort at Intel that is expected to save the company $10 billion by 2025.

Intel is facing a number of challenges, including rising competition from rivals like AMD and Nvidia, as well as delays in its next-generation chip manufacturing process.

The company expects its operating losses to peak in 2024 as it completes its five-year, four-node lithography plan.

Intel’s new operating model is expected to lead to increased profitability, efficiency, and savings.

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