Bloomberg cites sources indicating that Intel is preparing to announce the layoffs of approximately 20% of its global workforce, amounting to around 21,000 individuals.
Reports suggest that Lip-Bu Tan, the new CEO of Intel, aims to restructure management and leverage engineering leadership in product development. Last week, he announced the promotion of several technical executives and the demotion of some management positions.
Intel forecasts a workforce of approximately 108,900 by the end of 2024 after laying off 15% of employees last August.
Intel is scheduled to report its quarterly earnings on the morning of April 25, with expectations for detailed information to be released.
Source: Bloomberg
TLDR: Intel is set to announce a 20% reduction in its workforce, with the new CEO focusing on management restructuring and engineering leadership. Earnings report scheduled for April 25.
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