Intel to chop 20% of workforce – report
Intel’s new CEO Lip-Bu Tan is predicted to announce this week that 20% of the chipmaker’s workforce is being laid off in efforts to place the financially troubled firm again on monitor, “Bloomberg” studies.
The transfer comes simply months after the corporate fired 15,000 workers. It’s not but clear how any new spherical of cuts will have an effect on the corporate in Israel, though the newest layoffs did ultimately attain the nation. Over 1,000 Intel Israel workers have been laid off in late 2024, pushing the variety of Intel Israel workers beneath 10,000 for the primary time in a decade.
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On the finish of 2024, Intel had 109,000 workers worldwide.
The brand new streamlining measures are being led by Tan who took over on the helm in mid-March. He was a shock appointment, after beforehand stepping down from the board of administrators final August, because of variations of opinion with earlier CEO Pat Gelsinger concerning the extent of layoffs, which he felt have been too small, and the sluggish tempo of progress on manufacturing.
Tan is taken into account a senior determine within the chip making world having served for nearly 20 years as CEO of Cadence, one of many world’s two largest suppliers of chip growth instruments.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on April 23, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
