From Yahoo Finance: 2025-04-22 20:42:00

Intel is reportedly planning to cut more than 20% of its workforce to streamline operations and focus on engineering culture. The layoffs come as CEO Lip-Bu Tan aims to revive the company after losing ground in chipmaking and AI markets. The move follows a previous 15% reduction in workforce last August.

Last month, Tan announced plans to overhaul manufacturing and AI operations, following years of challenges and missed opportunities. Despite appointing a new AI chief, Intel’s AI plans are uncertain as its Falcon Shores chips are still in internal testing. The company’s turnaround strategy faces challenges amid U.S.-China trade tensions.

Intel’s upcoming first-quarter results will reveal more about Tan’s strategy. The company’s board ousted previous CEO Pat Gelsinger for not executing turnaround plans fast enough. The Santa Clara-based company had 108,900 employees in 2024. Shares were up 4.5% in premarket trading.



Read more at Yahoo Finance: Intel to lay off more than 20% of workforce, Bloomberg News reports