Intel is expected to announce a significant round of layoffs this week, with reports suggesting over 20% of staff could be impacted. Find out what’s behind the decision.
Intel Corporation is expected to announce plans this week to cut over 20% of its global workforce, according to sources familiar with the matter. The layoffs are part of a broader strategy by new CEO Lip-Bu Tan to reduce internal bureaucracy and refocus the company on innovation and engineering excellence.
This would mark the company’s most significant restructuring effort since cutting around 15,000 jobs last year. Intel, which had nearly 109,000 employees at the end of 2024, is looking to rebuild momentum after losing market share and technological ground to competitors like Nvidia.
Tan, who took over leadership last month, is pushing to divest non-core assets and boost performance in AI and chip manufacturing. His turnaround efforts come after Intel’s stock dropped 43% over the past year and amid continued delays in expansion projects.
More details are expected when Intel reports its Q1 earnings this Thursday.