Intel is reportedly planning to layoffs over 20% of its global workforce. This significant move is part of a major restructuring effort. The aim is to streamline operations and refocus on core areas. New CEO Lip-Bu Tan is leading this effort.
Intel faces declining revenues and increased competition. Rivals like AMD and Nvidia are challenging its market position. The company also faces difficulties in chip manufacturing. To address these issues, Intel aims to reduce bureaucracy and rebuild an engineering-driven culture.
This potential Intel layoffs follow a cut of 15,000 jobs last year. At the end of 2024, Intel’s workforce was 108,900. This was down from 124,800 in the previous year. The new Intel restructuring is expected to impact thousands more employees globally.
Under Lip-Bu Tan’s leadership, Intel will prioritize:
- Advanced chip design
- Manufacturing
The company will scale back on less profitable ventures. This Intel workforce reduction is seen as crucial for long-term growth.
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During a recent conference, CEO Tan acknowledged the challenges. However, he expressed confidence in Intel’s recovery plan. He stated that it would take time but is achievable. The Intel news of potential job cuts highlights the company’s efforts to adapt to a changing market. This Intel strategy focuses on strengthening its core business.
