Economy

Eugene

(64,692 posts) Thu Apr 24, 2025, 09:15 AM Apr 24

Intel to lay off more than 20% of workforce, Bloomberg News reports

Source: Reuters

Intel to lay off more than 20% of workforce, Bloomberg News reports

Reuters
Tue, April 22, 2025 at 8:42 PM EDT 2 min read

(Reuters) -Intel is set to unveil plans this week to slash more than 20% of its workforce, in a move to streamline operations and reduce bureaucratic inefficiencies, Bloomberg News reported on Tuesday, citing a person with knowledge of the matter.

The layoffs are part of a broader strategy to refocus on an engineering-driven culture, according to the report.

Intel did not immediately respond to a Reuters request for comment. Its shares were up more than 4.5% in premarket trading on Wednesday.

The layoffs mark a major step under new CEO Lip-Bu Tan, who took over Intel last month, to revive the faltering American firm after years of challenges and management missteps.

-snip-

Read more: https://finance.yahoo.com/news/intel-cut-over-20-workforce-004251026.html

5 replies

= new reply since forum marked as read

Highlight:

Intel to lay off more than 20% of workforce, Bloomberg News reports (Original Post) Eugene Apr 24 OP

I wonder what this will mean Diamond_Dog Apr 24 #1

Thanx to Krasnov killing the Chips Act because it was from the Biden Administration Botany Apr 24 #2

Remember how Garden Gnome de Wine was preening over landing that factory in Ohio. Diamond_Dog Apr 24 #3

I keep hearing about layoffs, layoffs, layoffs for weeks but the jobs numbers walkingman Apr 24 #4

Bring in a new CEO. Fire 1/5th of the workforce. Stock goes up. progressoid Apr 24 #5

Diamond_Dog

(36,766 posts)

1. I wonder what this will mean

Reply to Eugene (Original post)

Thu Apr 24, 2025, 09:25 AM

Apr 24

For the 28 billion dollar Intel chip factories they have started to build in Ohio. There have already been delays on the project and they are now saying it won’t be operational until 2030.