Intel to cut over 20% of workforce

Intel Corporation is reportedly planning to cut over 20% of its global workforce, according to a report.

The move is part of a major restructuring effort under the leadership of new CEO Lip-Bu Tan, who is spearheading a comprehensive effort to streamline management, eliminate bureaucracy, and rebuild an engineering-driven culture at the embattled chipmaker.

Intel has been grappling with declining revenues and increased competition from rivals like AMD and Nvidia, as well as challenges in maintaining its leadership in chip manufacturing. 

This layoff follows last year’s cut of 15,000 jobs, bringing Intel’s workforce to 108,900 employees at the end of 2024, down from 124,800 the previous year.

Under Tan’s leadership, Intel is reportedly prioritising its core business areas, including advanced chip design and manufacturing, while scaling back on less profitable ventures.

The restructuring is seen as a critical step in positioning the company for long-term growth in a highly competitive market