According to Bloomberg’s report, Intel is planning to dismiss a significant portion of its workforce, which amounts to approximately 20% or more than 20,000 employees given their current headcount of around 108,900 as of the end of 2024. This decision seems to be focused on streamlining middle management within Intel’s operations as a chipmaker.
One of the initial significant decisions taken by Intel since Lip-Bu Tan became its CEO will likely involve job reductions. Furthermore, Tan has disclosed a deal to offload 51% of Intel’s shares in Altera, an FPGA manufacturer, suggesting that the new Intel leader is prepared to implement substantial changes aimed at revitalizing the company.
Intel cut 15,000 jobs last August, though that move occurred under previous leadership.
During a period of upheaval at Intel, it was when Tan assumed the position as CEO. In the year 2024, the company’s stock plummeted by 60%, and Intel reported a staggering net loss of $1.6 billion within just one quarter.
Intel revenue dropped 7 percent year-over-year in the fourth quarter of 2024.
In a mail to Intel employees after his appointment, Tan was straightforward about the challenges they were facing instead of evading them with dance-like maneuvers.
Working hand-in-hand, let’s put in tremendous effort to reclaim Intel’s status as a globally esteemed product manufacturer, strive for global recognition as a premier foundry, and exceed customer expectations more than ever.
Intel is set to disclose their first-quarter earnings on the 24th of April, 2025. This occasion might serve as a platform for them to discuss their upcoming strategies, which may involve adjustments in their workforce structure.
Reducing middle management
It seems that Intel’s rumored layoffs are following an industry pattern, as their plan to trim down middle management mirrors reports suggesting similar moves by Microsoft regarding its workforce.
According to a new report, it’s possible that Microsoft may start reducing staff by May 2025, aiming to make their management structure more efficient. The company seems to be planning to boost the number of employees who are coders compared to those who aren’t.
It seems that Intel is facing a comparable predicament, as it has been criticized for being excessively large or overly complex by several individuals. Among these critics, Tan is one who believes that the middle management structure of Intel is unnecessarily expansive, as suggested in a report by Reuters.
According to reports, Tan hinted towards some challenging choices during his latest public gathering. If the proposed 20,000 job reductions take place, they certainly fit this description.
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2025-04-23 15:39