Intel to cut up to 195 jobs at Leixlip plant
Up to 195 people could lose their jobs at the Intel plant in Leixlip, Co Kildare, according to sources briefed on the situation.
The company is believed to have informed the Department of Trade, Enterprise and Employment about the move. A consultation process is expected to begin shortly.
Advertisement
The US chipmaker is undergoing a major restructuring at the moment but it is understood that the Leixlip plant, where almost 5,000 people are employed, will remain central to the company's operations.
However, it will not be immune to job losses, and there are expectations that some 195 positions – under five per cent of the workforce at the plant – will be cut.
Intel appointed a new chief executive, Lip-Bu Tan, earlier this year in an attempt to revive the struggling chipmaker after years of difficulties.
Ireland
Intel staff and families 'extremely concerned' at...
Read More
Tan so far has flattened the semiconductor giant's leadership team and taken direct oversight of its important data centre and AI chip group, plus its personal-computer chip group. He has brought in new engineering leaders.
He has also aimed to cut what he viewed as Intel's bloated, slow-moving middle-management layer.
Tan's moves follow years of manufacturing challenges at Intel and lost opportunity for mobile phone and AI chips. His predecessor, Pat Gelsinger, attempted an ambitious turnaround though he compounded some of Intel's problems.
Intel reported an annual net loss attributable to the company - its first since 1986 - of $18.8 billion (€16 billion) in 2024. – Additional reporting: Reuters
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Guardian
an hour ago
- The Guardian
Whitehall's ambition to cut costs using AI is fraught with risk
A Dragons' Den-style event this week, where tech companies will have 20 minutes to pitch ideas for increasing automation in the British justice system, is one of numerous examples of how the cash-strapped Labour government hopes artificial intelligence and data science can save money and improve public services. Amid warnings from critics that Downing Street has been 'drinking the Kool-Aid' on AI, the Department of Health and Social Care this week announced an AI early warning system to detect dangerous maternity services after a series of scandals, and Wes Streeting, the health secretary, said he wants one in eight operations to be conducted by a robot within a decade. AI is being used to prioritise actions on the 25,000 pieces of correspondence the Department for Work and Pensions receives each day and to detect potential fraud and error in benefit claims. Ministers even have access to an AI tool that is supposed to provide a 'vibe check' on parliamentary opinion to help them weigh the political risks of policy proposals. Again and again, ministers are turning to technology to tackle acute crises that in the past might have been dealt with by employing more staff or investing more money. The push to digitise government, which is led by the prime minister, Keir Starmer, and his science and technology secretary, Peter Kyle, has brought the government into close contact with the biggest US tech companies. Google, Microsoft, Palantir, IBM and Amazon were all in attendance at a Ministry of Justice roundtable discussion last month. Starmer and Kyle are not alone. Countries from Singapore to Estonia have been increasingly embracing AI in public service delivery. Jeegar Kakkad, a director at the Tony Blair Institute for Global Change – one of the organisations arguing for greater use of technology and which is part-funded by tech firms – put the argument like this: 'Our systems are broken. They cannot keep up with demand. You have a couple of choices: keep trying to make a broken system work with traditional approaches – more money, more immigrants to fill the gap in the workforce – or you have to use technology. 'I think the answer is technology, but we have to make sure we have agency in how we design these systems, they are human-designed and we put rules in place.' Kyle has recently been at pains to stress that the government is doing everything it can to enable big tech firms to thrive in Britain. At London Tech Week last month, he told executives about regulation and planning policies designed to make their businesses run better, saying: 'All of this adds up to a government that is on your side.' When it comes to injecting technology into public services, ministers face a choice: whether to 'build or buy'. The temptation is often to issue contracts to private companies to achieve the fastest and greatest impact. For the tech companies, a huge pot of revenue is at stake. The value of UK public sector tech contracts rose to £19.6bn last year, up from £14.4bn in 2019, according to Tussell, which researches government contracts. But introducing AI and automation into public services is riskier than using it to help drivers navigate busy roads or recommending songs to music fans. When citizens interact with public services they are often at their most vulnerable. For example, last week the Ada Lovelace Institute, an independent research body, found that 59% of the public were concerned about the idea of AI being used to assess welfare eligibility, compared with 39% of people worried about the use of facial recognition technology in policing. And the public is also showing signs of concern about the motivations of private technology companies. The same polling found the public was significantly less likely to trust private companies to deliver technology that could assess welfare eligibility or predict the risk of cancer than government bodies (although governments are less trusted than academics and not-for-profits). The institute urged MPs to launch a review of the 'role of technology companies and the bodies funded by them in shaping the policy and media narrative on the benefits of public sector AI; and the effectiveness of existing measures that aim to tackle conflicts of interest and 'revolving door' dynamics between government and the technology sector'. It said: 'At a time when AI is being offered as a solution to a wide range of public sector problems, the public are concerned about the motivations of private sector involvement. The public expects transparency and that public sector AI prioritises people over profit.'
Time Out
an hour ago
- Time Out
SkillsFuture Festival returns with over 100 events to help you upskill and stay ahead
10 years in, and the SkillsFuture movement is still going strong with more Singaporeans taking a closer look at their skills and careers to stay ahead. This year's festival brings over 100 exciting events islandwide to help you explore what's next – whether you're eyeing a new job, picking up something new, or simply figuring out your next move. Running from July 7 to August 18, this six-week festival packs in hands-on workshops, immersive learning journeys, industry talks, and job fairs islandwide. It kicks off with the SkillsFuture Roadshow at VivoCity (July 10 to 13), where you can get practical career tools, explore courses with enhanced subsidies, and participate in on-site career and skills consultations offering personalised advice. Curious about how AI is changing your job? Navigate the digital future with Skills Ignited: The AI & Digital Security Roadshow (July 17 to 20), co-hosted by Microsoft, at Suntec. Expect exclusive insights into emerging job trends and opportunities from leading tech companies. Tech-savvy types should head to the Singapore Management University (SMU) for Unlocking Opportunities in Cybersecurity (July 18 and 19) – think hands-on learning, expert talks, and even on-site hiring opportunities. Meanwhile, if you've ever considered a career in healthcare or early childhood education, swing by the Care Economy Jobs and Skills Fair (July 25 to 27) at Toa Payoh Hub (July 25 to 27) for a closer look into these rewarding and fast-growing sectors. SFF@CDC events (July 16 to August 16) are also popping up across the heartlands, bringing SkillsFuture support closer to home. Expect practical tips on mid-career reskilling and easy-to-understand guidance on the latest national schemes available. And here's a hot tip for the office crowd: the final SkillsFuture Roadshow (August 12 to 15) at UOB Plaza Atrium is designed for the busy bees in the CBD. It's a one-stop-shop for quick career tips, training support info and advice on trending upskilling courses – ideal if you're considering a career switch or just want to future-proof your current one.
Reuters
4 hours ago
- Reuters
Musk's xAI raises $5 billion each in fresh debt and equity, Morgan Stanley says
June 30 (Reuters) - Elon Musk's xAI has completed a $5 billion debt raise alongside a separate $5 billion strategic equity investment, Morgan Stanley (MS.N), opens new tab said on Monday, as the startup looks to expand its AI infrastructure through data centres amid intensifying competition in the industry. The $5 billion raised in debt consists of financing of secured notes and term loans, Morgan Stanley in a statement posted on social media platform X. The deal was oversubscribed and included prominent global debt investors, it added. Reuters earlier reported that xAI was on track to close on a $5 billion debt raise led by Morgan Stanley, despite tepid investor demand. In a separate report, Bloomberg News said that xAI was in talks to raise $4.3 billion through an equity investment on top of its $5 billion debt funding plans. XAI did not immediately respond to a Reuters request for comment outside regular business hours. The proceeds will support xAI's continued development of AI solutions, a data center and its flagship Grok platform, the bank said. Apart from selling debt, xAI has also been in talks to raise about $20 billion in equity, which would value the company at more than $120 billion, with some investors placing valuations as high as $200 billion.
