Intel Slashes 25,000 Jobs, Halts Global Factory Projects

Intel is restructuring under new CEO Lip-Bu Tan, planning to cut about 25,000 jobs—roughly 15% of its workforce—by the end of 2025 to restore profitability and focus on cost discipline. The company is abandoning or slowing factory projects in Germany, Poland, and Ohio, and consolidating operations in Vietnam and Malaysia. Intel reported a $2.9 billion quarterly loss, its sixth consecutive quarterly loss, and a 33% share price decline over the past year. Shares fell over 9% following the announcement, reflecting investor concerns about the company's competitiveness and future. Tan criticized previous management's aggressive factory spending, signaling a pivot to investments aligned with customer demand. The restructuring comes as Intel faces intensified competition from Nvidia and AMD in the AI chip market.