Intel will be cutting 15,000 jobs, or 15% of its workforce, by the end of the year. The chip company has announced it aims to save $10 billion in 2025 as it reports no profits whatsoever from the previous three months.
Gelsinger says the decision is due to the introduction of a new operating model, which"made it clear our cost structure is not competitive". Its foundry business had slipped behind the competition and faces massive hurdles to catch up with competitors. Today, only a handful of the silicon inside its client CPUs and GPUs is actually made by Intel and its foundry business has operating losses of $2.8 billion for the previous three months. Many of Intel's costs have been seen to be playing catch-up to rivals such as TSMC.Keep up to date with the most important stories and the best deals, as picked by the PC Gamer team.
It's easy to speculate as to which those could be. Intel's graphics division has long been the subject to such rumours, yet it is also a key market that is seeing exponential growth for Nvidia. Nothing has yet been confirmed, anyways, so let's not make our minds up just yet.