Intel layoffs will be announced this week, and as much as 20 percent of the company’s workforce will be fired, says a report by Bloomberg. This will be the first major layoff post the appointment of Lip-Bu Tan as the chief executive officer. “Intel has a powerful and differentiated computing platform, a vast customer installed base and a robust manufacturing footprint that is getting stronger by the day as we rebuild our process technology roadmap,” Tan had said on his appointment. “I am eager to join the company and build upon the work the entire Intel team has been doing to position our business for the future.”
Also read: Intel Names Semiconductor Expert Lip-Bu Tan Its Chief Executive Officer
Intel layoffs have reportedly been announced as the company struggles to maintain its position in the markets especially in the wake of NVDIA capturing the AI chip segment. In August 2024, Intel reduced its workforce by 15,000 employees. Following this round of layoffs, the computing giant’s employee count stood at approximately 108,900 by the end of the year. Reports also suggest that Lip-Bu Tan is looking to restructure the company’s manufacturing and AI operations. During the Intel Vision conference in March, Tan had said: ”Intel needs to replace the engineering talent it has lost, improve its balance sheet and better attune manufacturing processes to the needs of potential customers”.
Also read: Top IT Firms Announce Job Cuts Raising Fears of Layoffs
Recently, the company also sold 51% of its Altera business to Silver Lake, a global leader in technology investing. Today’s announcement reflects our commitment to sharpening our focus, lowering our expense structure and strengthening our balance sheet,” said Lip-Bu Tan, chief executive officer of Intel at the time. “Altera continues to make progress repositioning its product portfolio to participate in the fastest growing and most profitable segments of the FPGA market. The company is also expected to report its results on 24 April 2025.
