Intel Will Lay Off Over 15,000 Employees To Reduce Costs - 1

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Intel Will Lay Off Over 15,000 Employees To Reduce Costs

  • Written by Andrea Miliani Former Tech News Expert

The American tech company Intel announced a massive layoff of 15% of its workforce—over 15,000 employees—by the end of 2024 to reduce costs in a press release this Thursday. In the second-quarter report, the company explains that it is part of the new cost-reduction plan to save $10 billion by 2025.

The company explained that the financial performance during this second quarter was “disappointing,” and these actions, along with the launch of the new Intel 18A in 2025, will help Intel regain leadership and strength in the market.

Pat Gelsinger, Intel CEO, sent a note to current employees. “This is painful news for me to share. I know it will be even more difficult for you to read,” wrote Gelsinger. “These decisions have challenged me to my core, and this is the hardest thing I’ve done in my career.”

Gelsinger explained that the current workforce is 10% larger than it was in 2020, when they made $24 billion more than last year in revenues. Intel will also change internal bureaucracy and current operational systems to simplify processes and accelerate workflows.

The Intel CEO also promised to provide more details during an internal meeting, and retirement offerings for selected employees as well as a voluntary departure program next week.

This announcement comes months after U.S. President Biden approved an agreement with Intel and gave the company $8.5 billion in direct funding to support the construction of new facilities in the country, along with $ 11 million in loans in March. According to the official statement from the White House, the government expected that investment to create nearly 30,000 new jobs for Americans.

Regarding the company’s future, Gelsinger said the path was not going to be easy. “We are making the changes necessary to build on our progress and usher in a new era of growth,” wrote the CEO.

Intel is trying to stay afloat and compete against its strong rivals like AMD and Nvidia—which recently announced a new flagship AI model for the Chinese market and has been making big efforts this year to develop affordable AI chips .

BubblePal: New AI Toy That Talks, Plays, and Connects with Kids - 2

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BubblePal: New AI Toy That Talks, Plays, and Connects with Kids

  • Written by Kiara Fabbri Former Tech News Writer
  • Fact-Checked by Justyn Newman Former Lead Cybersecurity Editor

BubblePal is the next AI-powered interactive toy. The bubble-shaped toy was launched last week and is created by Haivivi, a toy company specializing in experimental products for kids. According to the company, it can engage in natural conversations with children and offer emotional companionship.

Its bionic memory technology enables BubblePal to evolve the more it interacts with a child, becoming more knowledgeable and responsive over time. It also has a silicone strap, which attaches the sphere to a toy, allowing that toy to “come to life.”

The toy also comes with the Haivivi Pal App , which allows parents to personalize their child’s chosen BubblePal characters, set dialogue expectations, establish limits, and review growth records. It also provides weekly updates through a ‘Growth Report”.

The app also includes a Growth Badge System, developed based on Howard Gardner’s Theory of Multiple Intelligences . This system analyzes each child’s unique characteristics and types of intelligence through chat, aiming to help parents recognize their children’s talents. In addition, the real-time Emotional Barometer captures the child’s preferences or aversions to different topics.

Designed for children aged 3 to 12, it is available for $89 on Haivivi’s official website.

However, Forbes raises an important concern about privacy with these toys. Previous, less advanced models have had weak security measures, failing to adequately protect children’s data.

For example, Mattel’s Hello Barbie , an AI-powered doll designed for entertainment, was criticized as a “privacy nightmare”. Similarly, BBC reported that the My Friend Cayla doll was scrutinized for its vulnerability to Bluetooth hacking, which could allow unauthorized individuals to send voice messages directly to children. These examples highlight the ongoing challenges in ensuring robust security for interactive toys.