Intel is reportedly planning to announce layoffs affecting over 20% of its workforce. This move aims to cut bureaucracy and is part of efforts to streamline management and rebuild an engineering-focused culture within the company. The decision marks the first major restructuring under new CEO Lip-Bu Tan, who took over last month.
Prior to this announcement, Intel had already reduced its workforce by approximately 15,000 positions last year. By the end of 2024, Intel's employee count is expected to be 108,900, down from 124,800 the previous year.
