Intel’s $10 Billion Cost Reduction Plan Drops Semiconductor Equipment Growth to -6.1% in 2024 Says the Information Network

New Tripoli, PA, September 04, 2024 --(PR.com)-- Intel plans to cut costs by $10 billion by 2025, including laying off approximately 15,000 employees. Intel's capex cut will add an additional 5% to the total WFE market in 2024, according to the report “Global Semiconductor Equipment: Markets, Market Shares and Market Forecasts,” recently published by The Information Network, (www.theinformationnet.com) a New Tripoli, PA-based market research company.

“Intel revealed its capex budget would be cut by 20% in 2024 to $21 billion in 2024. Its capital expenditure in 2023 increased to $26 billion as it made significant investments in the development of advanced process nodes such as Intel 3 and Intel 4. This followed a 2022 capex spend of $25 billion, as Intel solidified its position in the global foundry market,” reported Dr. Robert Castellano, President of The Information Network.

“With Intel’s announcement, WFE growth expected to be -6.1% in 2024,” added Dr. Castellano. “Intel’s new financial guidance dropped the WFE market an additional 5%.”

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Contact: Dr. Robert N. Castellano, 610/737-7596