Intel is preparing for a significant workforce reduction of 20%, affecting over 21,000 employees, marking the largest layoffs in its history. The decision comes under new CEO Lip-Bu Tan, who is tasked with reversing three years of decreasing revenue amid fierce competition from Nvidia and AMD. Tan aims to focus on engineering roles and reduce bureaucratic layers as part of a $10 billion cost-cutting strategy for 2025. Following a previous layoff announcement of 15,000 employees, these changes are critical for the company's recovery and competitiveness in the tech industry.
Intel's intent to cut its workforce by 20% aims to streamline operations under new CEO Lip-Bu Tan, focusing on engineering roles amidst declining revenue.
Under Tan's leadership, Intel plans to drastically reshape its organization, reducing bureaucracy and holding itself accountable to regain competitiveness in the chip market.
The recent layoffs, including 21,000 roles, are part of a larger strategy to recover from three years of declining revenue and increased competition from Nvidia and AMD.
With past attempts to cut costs failing, Tan emphasizes an engineering-focused approach to rebuild trust and develop superior products for customers.
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