Mass Layoffs hit Intel | The Tech Field Day News Rundown: July 30, 2025

Tech Field Day News Rundown · Jul 30, 2025 · 35m

Intel is cutting about 24,000 jobs this year—roughly a quarter of its core workforce—as part of a major restructuring led by new CEO Lip-Bu Tan. The company is canceling projects in Germany and Poland, downsizing operations in Costa Rica, and slowing construction in Ohio. Intel says it overbuilt before securing enough demand and now aims to focus spending more carefully. Despite the cuts, Intel lost $2.9 billion last quarter, though it expects to save $17 billion this year and stay on track with upcoming chips like Panther Lake and Nova Lake. This and more on the Tech Field Day News Rundown…