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Intel has confirmed it is in the final stages of cutting over 15,000 jobs, or roughly 15% of its global workforce, as part of a sweeping restructuring plan. This marks the company’s first public estimate of the scale of its ongoing layoffs, which will bring its workforce down to around 75,000 employees, a 22% drop from mid-year levels. Alongside the job cuts, Intel is sharply reducing its manufacturing ambitions. The company is scrapping plans to build new chip factories in Germany and Poland, and will shut down an assembly site in Costa Rica, consolidating operations in Vietnam and Malaysia. It also signaled further delays to its long-promised Ohio fabs, once due to open in 2025, then pushed to 2030, with no new timeline provided. Most notably, Intel warned it could exit advanced chip manufacturing altogether within four years if it fails to attract significant outside clients to its Intel Foundry business. CEO Lip-Bu Tan acknowledged past over-investment in capacity, calling recent factory expansion plans "unwise and excessive," and noted that the company’s factory footprint had become overly fragmented. This article was written by Eamonn Sheridan at investinglive.com.Hence then, the article about intel warns it could exit advanced chip manufacturing was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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