Intel to Shut Down Automotive Division, Implement Layoffs

The semiconductor giant Intel is withdrawing from the automotive chip business, resulting in job cuts within its automotive division. This move aligns with the company’s strategy to prioritize its primary business areas, such as client computing and data centers. The closure of the automotive division and subsequent layoffs were announced internally. Intel plans to honor its current obligations in the automotive sector before its complete departure. Although the precise number of affected jobs hasn’t been released, the action represents a comprehensive wind-down of the automotive operations. While exiting the automotive chip market, Intel maintains its majority ownership of Mobileye, an autonomous driving technology firm based in Israel. The company is also undergoing further restructuring, including plans to outsource marketing and potential job cuts in its manufacturing unit. These changes are being overseen by the new CEO.