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Intel to slash 22% of workforce as CEO tightens spending
Intel is going to end the year with a workforce that is over a fifth smaller than last year, it said on Thursday, and new CEO Lip Bu Tan presented a blueprint for a more cost-disciplined, streamlined chipmaker that would issue “no more blank checks.
Intel's CEO and its executive leadership team are taking pay cuts of up to 25%, as the company attempts to navigate a shaky economy and avoid further layoffs, Reuters reported.
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Intel AI layoffs 2025: CEO says it’s too late to compete with NVIDIA, begins mass job cutsIntel has begun laying off thousands of employees in the US and Israel as part of a major AI restructuring push. CEO Lip-Bu Tan admitted the company can no longer compete in high-end AI hardware and ...
Intel’s stock dropped around 50% this year, in August Gelsinger announced 15,000 layoffs, and the company reported a record $16.6 billion quarterly loss in October — in part due to the costs ...
Intel began laying off employees across the company Monday, notifying workers individually about whether they will keep their jobs. New CEO Lip-Bu Tan told workers in April to expect major ...
Intel CEO alludes to layoffs as tech giant loses $821 million in Q1. Russ Wiles. Arizona Republic. Hear this story. The company reported a widened loss of $821 million in the first quarter of ...
Intel layoffs: CEO Lip-Bu Tan announced his key restructuring plans, hinting at a mass layoff as he aims to cut down ‘unnecessary bureaucracy’ in the chipmaking giant. Intel shares were ...
In the latest big tech layoff, Intel revealed that it is cutting 15,000 employees, representing 15% of the company’s total staff. In a memo to employees, CEO Pat Gelsinger blamed the decision on ...
Lip-Bu Tan, the new CEO of Intel, ... Bloomberg reported that Intel is rumored to be preparing to lay off as many as 20% of its workers, which at the end of 2024 was about 108,900 people.
It's Tan time: New Intel CEO faces first quarterly earnings. expand. Lip-Bu Tan was appointed chief executive officer of Intel Corp. on March 12. ... TSMC issues definitive statement on ...
Intel plans workforce cuts and a tighter return-to-work policy, but the company, a major Arizona employer, didn't announce specific layoff numbers. Intel CEO alludes to layoffs as tech giant ...
Media reports in recent days have suggested Intel could lay off more than 20% of its workforce, which numbered about 109,000 employees at the end of last year, including 12,000 in and around ...
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