Intel's Mass Layoffs | The Gestalt IT Rundown: August 7, 2024

Gestalt IT Rundown

It's not a great day for Intel and some 15,000 workers. In the earning call last week the CPU giant revealed that while they hit their revenue target numbers this past quarter there are storm clouds on the horizon. Challenges from AI companies as well as issues with some of their most recent chip designs has Pat Gelsinger looking to cut costs. The way that was expressed to the industry was through massive layoffs. Intel is shedding 15% of their overall workforce and suspending the payment of dividends through the end of the year. Analysts, including our own Daniel Newman, have said that Intel is facing some headwinds and they have projects on the table that they need to deliver upon. This is a pretty big story so I'm going to let you start, Jon.

Time Stamps:

0:00 - Welcome to the Rundown

1:16 - Delta Unhappy with Crowdstrike

3:54 - European Commission Approves HPE's Juniper Networks Acquisition

8:04 - Google Loses Antitrust Suit

12:03 - US DoJ Says Crawl to NVIDIA's Run:ai Acquisition

17:32 - Intel's Mass Layoffs 26:41 - The Weeks Ahead

28:42 - Thanks for Watching

Hosts:

Tom Hollingsworth: https://www.linkedin.com/in/networkingnerd/

Jon Swartz: https://www.linkedin.com/in/jonswartz/

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