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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 pressures
The 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 core business areas
Under Tan’s leadership, Intel is reportedly prioritising its core business areas, including advanced chip design and manufacturing, while scaling back on less profitable ventures. The restructuring is seen as a critical step in positioning the company for long-term growth in a highly competitive market. During his first public appearance as CEO at the Intel Vision conference, Tan acknowledged the immense challenges facing the company but expressed confidence in a long-term recovery plan. “It won’t happen overnight,” he admitted, “but I know we can get there.”
Navigating a competitive landscape
Intel’s struggles are deeply rooted in its delayed response to market shifts, particularly the booming AI sector. While Nvidia has surged ahead to become the world’s most valuable semiconductor company, Intel has lagged behind, missing out on lucrative opportunities in AI and advanced chip manufacturing.
Additionally, Intel has paused key expansion projects, including its highly publicised Ohio facility, once touted as the world’s largest chip production hub. Intel is scheduled to report its first-quarter results on Thursday, which may provide further insights into Tan’s restructuring plans.
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