Intel Corp. is set to reveal plans this week to reduce its workforce by over 20%, aiming to cut down on bureaucracy and improve efficiency at the struggling chipmaker. This move is part of an effort to simplify management and restore an engineering-driven culture, according to a source familiar with the matter, who asked to remain anonymous due to the confidential nature of the plans.
This restructuring marks the first major action under new CEO Lip-Bu Tan, who took charge last month. The planned cutbacks follow a significant reduction in staff last year, when Intel slashed around 15,000 jobs in August.
As of the end of 2024, the company employed 108,900 people, down from 124,800 the previous year.
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