Intel to spend $10 billion on restructuring

With the ninth generation processor architecture, Intel got rid of the previous problems and came to the Raptor Lake architecture today, unfortunately, the cake lost in the casting side and the global economic crisis appeared. The company is going through a restructuring again before it can fully recover.

Revenues are falling

According to its third-quarter report of the year, Intel generated $15.34 billion in revenue, down 15 percent year-on-year. Net profit was 1 billion, down almost 7 times from the previous quarter due to higher costs.

While the PC group generated $ 8.12 billion in revenue during this period, it experienced a 17 percent decline. It was reflected to Intel as PC sales fell by 20 percent. While the Data Center group fell 27 percent with $4.21 billion, the Network group managed to grow 14 percent with $2.27 billion.

As Pat Gelsinger has mentioned before, Intel is going through a major restructuring. Next year, 3 billion dollars will be spent on more efficient use of resources. It is planned to spend around 8 billion dollars in the next 2 years. Especially since around 10 thousand employees will be terminated, costs such as compensation will have an important place.