Intel may cut 20% of its workforce: ‘The move is part of …’
[ad_1] Intel Corporation is reportedly planning to cut over 20% of its global workforce, according to a Bloomberg News report. The move is part of a major restructuring effort under the leadership of new CEO Lip-Bu Tan, who is spearheading a comprehensive effort to streamline management, eliminate bureaucracy, and rebuild an engineering-driven culture at the embattled chipmaker.Intel layoffs: Restructuring to address financial pressuresThe layoffs are expected to impact thousands of employees across Intel’s global operations, as the company seeks to streamline its business and reduce costs. Intel has been grappling with declining revenues and increased competition from rivals like AMD and Nvidia, as well as challenges in maintaining its leadership in chip manufacturing. This layoff follows last year’s cut of 15,000 jobs, bringing Intel’s workforce to 108,900 employees at the end of 2024, down from 124,800 the previous year.Focus on […]