Intel to Cut 10,000 Jobs and Shut Down Automotive Division
Intel is preparing for a significant shift. Starting July 15, the tech giant will lay off 10,000 workers across four Santa Clara locations, including its headquarters on Mission College Boulevard. This is the first wave of broader global layoffs under new CEO Lip-Bu Tan, as Intel begins downsizing its factory workforce by up to 20% in response to mounting financial pressures.
The company is also shutting down its automotive unit, ending its efforts in a space where it once supplied chips to over 50 million vehicles. The move is part of Intel’s renewed focus on its core business — data centers and personal computing — as it tries to regain footing amid fierce competition from rivals like Nvidia and ongoing struggles in the AI chip market. A recent internal memo described the changes as “painful but necessary.”
Intel’s total workforce has already dropped from 125,000 to around 109,000. Following a steep Q1 loss of $821 million, the company is tightening its operations. While not a massive player in the automotive space, the closure signals just how serious Intel is about streamlining. Investors reacted cautiously — Intel stock dipped 1% on the news.
Disclosure: This list is intended as an informational resource and is based on independent research and publicly available information. It does not imply that these businesses are the absolute best in their category. Learn more here.
This article may contain commission-based affiliate links. Learn more on our Privacy Policy page.
.webp)
