Intel has been scheduled to cut more than 21,000 people, or about 20% of its workforce, with a declaration due to this week, according to A. Bloomberg report,
This news comes beyond Intel’s Q1 income call Recently appointed CEO Lip-Bo TanWho replaced the major Pat Gailinger for a long time last year.
With the trimming, the Tan aims to “reconstruct the management and reconstruct an engineering-operated culture” according to Bloomberg, according to Bloomberg. After the announcement, the company had around 108,900 employees at the end of last year. 15,000 job cuts in August 2024,
Intel has been struggling for a long time; In the last five years, the company’s stock is around 67%. Since playing the CEO role in late 2024, Tan has shifted to Intel’s spin divisions. “Non-core” unitsEarlier this month, Intel sold 51% of it Altera semiconductor business for private equity firm Silver Lake,
Intel did not immediately respond to the remarks request.
