Intel To Reportedly Announce The Layoff Of Over 21,000 Employees – Equal To 20 Percent Of Its Workforce – This Week ...Middle East

Cantor Fitzgerald's star analyst, C.J. Muse, noted earlier this week that he saw "aggressive cost-cutting" and a "greater sense of urgency and purpose" at Intel now that Lip-Bu Tan was at the helm of the iconic chipmaker. Well, we might be about to witness the first such significant penny-pinching step from the new CEO. To wit, Bloomberg is now reporting that Intel will announce plans later this week to cull its workforce by 20 percent. As per a tabulation by Trading Economics, Intel had 108,900 employees at the end of 2024. Accordingly, the planned layoffs would presumably affect over 21,000 […]

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