Intel Confirm Staff Redundancies and Tech Cancellations After Q3 Profit Dive!

/ 2 years ago
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Coming a little ahead of the usual schedule, earlier this month Intel formally confirmed their Q3 financial results, and, overall, the numbers were not good. – And just to clarify, when a company reveals its quarter figures early, this is typically a sign that things haven’t gone too well.

Showing around a 25% year-on-year drop in revenue, rumours began to swirl that in order to help boost their margins moving forward, Intel would undertake a rather terse tightening of the metaphorical belt. Namely, it seemed like that staff were probably going to be let go.

Would this actually happen though? Well, following a report via TechPowerUp, Intel has confirmed that both staff cuts are set to happen, and more so, they’ll also be looking to cancel a number of yet undisclosed technology products.

Intel Confirms Job Cuts and Cancelled Tech to Help Boost Profits!

Starting with the job cuts, while Intel hasn’t cited a specific number, they have (somewhat ominously) confirmed that a ‘meaningful’ number of its employees will be let go over the next 6-12 months. And the bad news for us consumers is that the rumour mill is suggesting that their CPU development and marketing teams are likely to be the most affected. – Based on current theories, however, the move may see Intel ultimately look to reduce its current staff of circa 113,700 to something around 90,000.

In terms of technological development though, this is a bit of a knotty one as while Intel has confirmed that projects are going to be cancelled, they haven’t said exactly what aspects of their research and development they will be primarily focusing on. This, in fairness, is entirely understandable as they can just do it quietly without any uproar from the community.

Intel Arc A770

Arc – The Start and the End of GPU Development?

In this regard though, given the overall disappointment of their initial Arc graphics cards, some are already speculating that Intel may look to, even this early on, sell this arm of their company in order to quickly offset what must undoubtedly be, at the moment at least, a high expense yet low-profit yielding sector.

And with Intel reportedly targeting a reduced operating cost of circa $10BN before the end of 2025, this money’s got to come from somewhere!

Yes, in a nutshell, Arc might be both the beginning and the end of Intel’s graphics card development.

What do you think? – Let us know in the comments!

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