Intel Plans to Cut Over 20% of Workforce Amid Restructuring

Intel Corp. is set to announce layoffs affecting more than 20% of its workforce this week, marking its first major restructuring under newly appointed CEO Lip-Bu Tan. The move targets approximately 22,000 employees and aims to eliminate bureaucracy, streamline management, and restore an engineering-centric culture at the company. This restructuring follows a previous round of layoffs last year, during which Intel cut about 15,000 jobs. Tan, who took over as CEO last month, is also pursuing a strategy of divesting non-core assets and focusing on competitive product development to help Intel regain its position in the chipmaking market. Intel’s leadership change and cost-cutting measures come amid ongoing financial losses and increased competition from rivals like Nvidia, especially in the artificial intelligence sector.