On April 23, according to a knowledgeable source, Intel (INTC.O) will announce plans this week to cut more than 20% of its workforce, 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)



