Intel's CEO Lip-Bu Tan is set to announce a significant reorganization, aiming to reduce the workforce by 20% from its 110,000 employees. This move is part of his strategy to eliminate unnecessary bureaucratic layers within the company, which has been criticized for its complex management structure compared to competitors like AMD and Nvidia. Tan's vision, dubbed "The New Intel," emphasizes engineering excellence and customer relations. The workforce cut is also viewed as a necessary step to boost shareholder confidence amidst declining share prices.
CEO Lip-Bu Tan's reorganization of Intel is expected to cut 20% of the workforce, targeting excess bureaucratic layers to revitalize the struggling chipmaker.
Under my leadership, Intel will be a company focused on engineering. We will push ourselves to develop the best products, listen closely to our customers, and hold ourselves accountable for our commitments. — Lip-Bu Tan
The company reportedly has many more management layers than its peers like AMD or Nvidia, suggesting an organizational overhaul is necessary for competitiveness.
With its share price falling again, Intel aims to win over shareholders through workforce downsizing, often marketed as "AI-driven" cost savings linked to innovation.
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