Intel’s Strategic Shift: Job Cuts and Tech Investment to Boost Market Position

Intel is planning to cut a significant number of jobs to lower expenses and finance an ambitious initiative aimed at recovering from a recent decline in earnings and market share. Sources familiar with the company’s strategies, who preferred to remain anonymous, suggest that the reduction in workforce could be made public as early as this week. With approximately 110,000 employees, Intel is excluding workers from units that are being divested. The CEO, Pat Gelsinger, is allocating substantial resources towards research and development to enhance Intel’s technology and facilitate its resurgence in the semiconductor sector. Intel’s previous dominant position has weakened over time under the leadership of Gelsinger’s predecessors, allowing competitors like Advanced Micro Devices to close the gap and gain market share.