Intel Cuts 24,000 Jobs, Announces Major Strategic Restructuring

Intel announced its Q2 2025 earnings, revealing a plan to lay off approximately 24,000 employees and significantly scale back projects in Germany, Poland, and Costa Rica. This restructuring aims to correct previous overinvestment in manufacturing capacity and align future growth with actual market demand. CEO Pat Gelsinger emphasized a shift towards building chips based on customer needs and stricter design review processes. Despite a reported loss, Intel affirmed that key flagship chip projects remain on track, with new leadership for its data center business and a detailed AI strategy expected in the coming months.