Source: Intel will announce layoffs of more than 20% this week

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MarsBit
04-23
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Mars Finance News, on April 23, a well-informed source revealed that Intel (INTC.O) will announce a plan to cut more than 20% of its workforce this week, aimed at reducing the bureaucratic layers of the struggling chip manufacturer. The source stated that this move is intended to streamline management and rebuild an engineer-driven corporate culture. This will be the first major restructuring since the new CEO Pat Gelsinger took office last month. The layoffs follow a previous plan to cut approximately 15,000 employees announced last August. By the end of 2024, Intel's total workforce will be reduced from 124,800 in the previous year to 108,900. (Jinshi)

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