Intel is cutting about 24,000 jobs this year—roughly a quarter of its core workforce—as part of a major restructuring led by new CEO Lip-Bu Tan. The company is canceling projects in Germany and Poland, downsizing operations in Costa Rica, and slowing construction in Ohio. Intel says it overbuilt before securing enough demand and now aims to focus spending more carefully. Despite the cuts, Intel lost $2.9 billion last quarter, though it expects to save $17 billion this year and stay on track with upcoming chips like Panther Lake and Nova Lake. This and more on the Tech Field Day News Rundown with Tom Hollingsworth and Alastair Cooke.

Time Stamps:

• 0:00 - Cold Open
• 0:26 - Welcome to the Tech Field Day News Rundown
• 1:27 - AI Coding Assistants Help Developers Make Big Mistakes
• 6:23 - Allianz LIfe Loses Most Customer Data in Hack
• 11:14 - AI Action Plan released by White House
• 16:07 - Palo Alto In Talks to Acquire CyberArk
• 20:17 - Commvault to Acquire Satori Cyber
• 24:03 - A Closer Look: Mass Layoffs Hit Intel
• 31:54 - The Weeks Ahead
• 33:48 - Thanks for Watching the Tech Field Day News Rundown

Follow our hosts ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tom Hollingsworth⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Alastair Cooke⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Stephen Foskett⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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