Intel to lay off 20% of workers — Bloomberg

Intel will officially announce a 20% layoff in the coming days, Bloomberg reported, citing an anonymous source. This will be the first major reorganization under the leadership of new CEO Lip-Bu Tan, who took over Intel in March.

According to an anonymous source, the goal of the layoffs is to simplify the management structure and return the company to an engineering culture. Last year, Intel already laid off about 15 thousand people. At the end of 2024, the company employed 108,900 people.

The company's new CEO's goal is to sell non-core assets, improve the product line and update manufacturing processes. Intel has already sold 51% of its Altera division to the investment fund Silver Lake.

Lip-Bu Tan said the company needs to upgrade its workforce, especially its engineers, and better adapt its production to customer demands. He said it would take time and "not easy" to regain competitiveness.

Intel will announce financial results for the first quarter of 2025 on April 24. Tang is expected to elaborate on the company's future strategy.