US EditionIntel’s new CEO plans to cut another 20% of its jobs, Bloomberg reports
- Lip-Bu Tan's Intel plans to eliminate over 21,000 jobs across the company this week.
- The struggling chipmaker faces high costs, shrinking margins, and years of technological challenges leading to financial pressure.
- This move under the new CEO aims to streamline management and rebuild an engineering culture.
- The planned cuts affect more than 20% of the workforce, which totaled about 109,000 employees in late 2024.
- These proposed reductions follow 15,000 job cuts less than a year ago and precede the upcoming quarterly earnings report.
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Intel layoffs: new CEO confirms job cuts. INTC stock sinks after earnings
Yesterday was an eventful day for shareholders and employees of Intel Corp. The American chipmaker reported its Q1 2025 results while its new CEO, Lip-Bu Tan, confirmed earlier reports that Intel would be laying off employees. Here’s what you need to know about those layoffs and the latest movement in Intel’s stock price. New Intel CEO Lip-Bu Tan confirms job cuts The most devastating news to come out of Intel yesterday was that earlier reports …
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Intel chief vows to thin ranks at US chip maker
New Intel chief executive Lip-Bu Tan on Thursday announced upcoming layoffs at the struggling US chip maker as White House tariffs and export restrictions muddy the market.
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