ccording to a recent Bloomberg report, Intel is planning to cut 20% of its workforce, which is about 21,000 employees. The Bloomberg report states that
the company is about to make an official announcement about the next Intel layoffs very soon.
These Intel corporation layoffs are part of a bigger plan of major restructuring actions, which are conducted by the recently designated CEO Lip-bu Tan, who stepped in last month and replaced Pat Gelsinger. His restructuring plan, along with the Intel layoffs, is focused on restoring the engineering-centered culture in the company with actions to streamline management and remove bureaucracy.
It should be mentioned that, considering these allegations, the company has not yet offered a comment about the Intel Corporation layoffs.
So, Intel is expected to cut over 20% of the worldwide workforce, in order to boost the company’s performance and remain in a firm competitive position against its rival, Nvidia, which has gained a lot of popularity recently due to its advanced artificial intelligence chips. The new CEO, Lip-By Tan, wants to improve the chip manufacturing process and has determined a strategy that might revive the Intel corporation in the industry.
The Intel company had previously announced Intel layoffs in August 2024, when about 15,000 of the Intel employees were laid off. This move reduced the total number of Intel employees to 108,900 by the end of 2024.
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Thanks to these Intel corporation layoffs, the CEO is focused on “streamlining management and rebuilding an engineering-driven culture,”, as the Bloomberg report stated.
Even more so, Intel is expected to reveal the Q1 reports in a couple of days, which will probably offer an opportunity for the Intel CEO to expose his future plans for the company. Even though Wall Street analysts suggest that Intel’s revenue drop is over, various experts don’t think that the company will reach its old sales numbers for a long time.
Stay tuned for more updates and to see if Intel will truly lay off about 20% of the global workforce as unnamed sources suggest!
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