Intel Announces Workforce Reduction Amidst Restructuring Efforts

Intel is planning a significant workforce reduction this week, with an anticipated layoff affecting over 20% of its staff. This strategic move aims to streamline operations and optimize management structures within the struggling chip manufacturer. The restructuring, implemented under the leadership of newly appointed CEO Chen Liwu, follows a previous workforce reduction in August last year, where approximately 15,000 employees were laid off. By the end of 2024, Intel’s global workforce is projected to shrink from 124,800 in 2023 to 108,900. This latest restructuring signals a shift towards a more engineer-centric culture focused on operational efficiency.