Economy

Eugene

(64,985 posts) Thu Apr 24, 2025, 09:15 AM Apr 24

Intel to lay off more than 20% of workforce, Bloomberg News reports [View all]

Source: Reuters

Intel to lay off more than 20% of workforce, Bloomberg News reports

Reuters
Tue, April 22, 2025 at 8:42 PM EDT 2 min read

(Reuters) -Intel is set to unveil plans this week to slash more than 20% of its workforce, in a move to streamline operations and reduce bureaucratic inefficiencies, Bloomberg News reported on Tuesday, citing a person with knowledge of the matter.

The layoffs are part of a broader strategy to refocus on an engineering-driven culture, according to the report.

Intel did not immediately respond to a Reuters request for comment. Its shares were up more than 4.5% in premarket trading on Wednesday.

The layoffs mark a major step under new CEO Lip-Bu Tan, who took over Intel last month, to revive the faltering American firm after years of challenges and management missteps.

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Read more: https://finance.yahoo.com/news/intel-cut-over-20-workforce-004251026.html

5 replies

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Intel to lay off more than 20% of workforce, Bloomberg News reports [View all] Eugene Apr 24 OP

I wonder what this will mean Diamond_Dog Apr 24 #1

Thanx to Krasnov killing the Chips Act because it was from the Biden Administration Botany Apr 24 #2

Remember how Garden Gnome de Wine was preening over landing that factory in Ohio. Diamond_Dog Apr 24 #3

I keep hearing about layoffs, layoffs, layoffs for weeks but the jobs numbers walkingman Apr 24 #4

Bring in a new CEO. Fire 1/5th of the workforce. Stock goes up. progressoid Apr 24 #5