Intel Plans Significant Workforce Reduction to Streamline Operations

According to BlockBeats, Intel is set to announce a plan to cut over 20% of its workforce this week, aiming to reduce bureaucratic layers within the struggling chip manufacturer. This decision is part of an effort to streamline management and rebuild a culture led by engineers. The move marks the first major restructuring under the leadership of the new CEO, Chen Liwu, who took office last month. This round of layoffs follows a previous reduction of approximately 15,000 employees announced last August. By the end of 2024, Intel's total workforce has decreased from 124,800 employees in the previous year to 108,900.