The past year has been anything but positive for tech giant Intel. The company has suffered nightmarish processor woes, been eliminated from the dedicated graphics card market, and, to add insult to injury, laid off 15,000 employees last year. Unfortunately, those layoffs weren’t the end of it and more appear to be in store for the company.
Bloomberg reports that Intel plans to lay off another 21,000 employees, or about 20 percent of its entire workforce. The company is expected to announce the layoffs later this week.
Intel’s newly appointed CEO Lip-Bu Tan—who came on in March 2025, replacing Pat Gelsinger after he stepped down in December 2024—aims to streamline management and rebuild a work culture that’s focused on technology and engineering, according to Bloomberg.
Tan said all the right things when he made his opening statements as Intel’s new chief executive last month, asking for “brutal honesty” while promising to “turn things around” and capping it all off with a bold claim: “I will make it perfect.” As devastating as it is for a company to slash a fifth of its workforce, we can only wait and see if this move is what Intel needs to re-establish itself and make a much-needed comeback.
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