Bloomberg reports that Intel is planning a workforce reduction of over 20%, impacting more than 21,000 employees, as part of a restructuring led by new CEO Lip-Bu Tan.
With a $19 billion loss in 2024 and revenue falling to $53.1 billion, the chipmaker aims to streamline management, cut $10 billion in costs, and refocus on AI chips and foundry services, competing with Nvidia, AMD, and TSMC, the report said.
The restructuring would be the biggest workforce reduction in the chipmaker’s history, following 2024’s layoff that impacted 15,000 employees, bringing the headcount down to 108,900 from 124,800. The cuts reportedly considered, targeting middle management, reflect Tan’s push to restore an engineering-led culture and reposition Intel amid mounting pressure. Once a semiconductor icon, Intel is undergoing a radical shift to meet AI-driven demands and modern IT infrastructure needs.
Source link
-
-
-
-
-
-
-
-
