SANTA CLARA (dpa-AFX) - Intel Corp. (INTC) plans to lay off more than 20% of its employees this week due to financial difficulties and weak market conditions, Bloomberg reported citing people familiar with the matter.
The layoffs aim to simplify the company's operations and focus on building a stronger engineering-driven culture.
At the end of 2024, Intel had around 109,000 employees.
These job cuts mark the first major restructuring under the new CEO, Lip-Bu Tan, who recently replaced Pat Gelsinger.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
