Intel's financial performance for the fourth quarter and full year of 2024 was disappointing, exacerbated by the lingering uncertainty surrounding the CEO position. In an effort to mitigate costs, Intel has continued its large-scale layoffs, with the latest announcement revealing that the Folsom campus in California will see an additional 58 employees laid off by the end of March. This brings the total number of layoffs at the Folsom campus to over a thousand since January 2023. Moreover, Intel intends to sell real estate at the Folsom campus and partially lease it back, a strategic move aimed at further reducing operational expenses.

Since the close of 2022, Intel's global workforce has dwindled by 23,000 employees, with roughly 16,000 positions eliminated in 2024 alone. These actions are part of a broader plan to achieve a cost reduction of $10 billion by 2025. Despite these cost-cutting measures, Intel's future prospects remain uncertain, with the company's share price experiencing a steep decline of 60% within the past year.