The Intel layoffs are set to impact over 21,000 employees, about 20% of the workforce, with an announcement expected this week.
This follows 15,000 job cuts in August 2024.
New CEO Lip-Bu Tan, who started late last year, aims to streamline management and prioritize engineering.
Intel’s stock has plunged 67% over five years, and the company sold 51% of its Altera unit to Silver Lake recently.
These layoffs precede Intel’s Q1 earnings call, marking a significant restructuring effort amid ongoing challenges.
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