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Intel’s Steady Decline Continues With 15% Cut to Staff and Scrapped Factory Plans
Intel CEO Lip-Bu Tan told employees in a staff-wide memo yesterday that the company plans to cut its workforce by roughly 15%—more than 25,000 jobs—aiming to end the year with about 75,000 employees worldwide. The cuts are part of the struggling chipmaker’s efforts to turn things around and compete in the booming AI market.
Lip-Bu Tan seemingly also said that "we are not in the top 10 semiconductor companies" any longer - a frank admission indeed.
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Intel To Lay Off 15% Of Workforce, Cut Strength To 75,000 Employees By Year-EndOther technology giants including Microsoft, Google and Amazon have trimmed their workforces in recent months.
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