Intel declared that it will have fewer employees at the end of the year.
As part of a broad overhaul headed by recently hired CEO Lip Bu Tan, it is anticipated to be more than 20% smaller than in 2024.
After years of poor performance and strategic blunders, Tan’s aggressive drive to streamline the chipmaker and regain its competitiveness includes this approach.
In March, Tan assumed leadership of the business. He has enacted drastic cost-cutting measures, such as resource reallocation and significant layoffs, the majority of which have already been completed through corporate divestitures.
With Tan promising to eradicate what he called a culture of “blank checks,” this reorganization marks the beginning of a new age of financial discipline at Intel.
