By cryptoadmin 
Intel is reportedly making ready to additional scale back its headcount, this time by shedding greater than 20 % of its workers. It might announce a plan to take action as quickly as this week. The struggling firm had 108,900 workers on the finish of final yr, so it might be set to chop tens of 1000’s of jobs. Based on a Bloombergsupply, the intention of the downsizing is to streamline administration operations and refocus Intel with an engineering-driven tradition.
Final August, Intel stated it could minimize greater than 15,000 jobs to cut back prices. In reality, the corporate, which has been sluggish to embrace the business's shift towards synthetic intelligence, has been considerably lowering its headcount since 2022 amid declining gross sales.
These newest purported layoffs would mark one of many first main restructuring measures since Lip-Bu Tan grew to become CEO in March after the sudden departure of Pat Gelsinger. The corporate is about to report its quarterly earnings outcomes on Thursday. Firms which might be restructuring usually announce layoffs across the time they launch earnings experiences.
Tan has additionally pledged to dump belongings that aren't core to Intel's objectives as he tries to show the enterprise round. Final week, it emerged that Intel is promoting off a majority stake in chipmaker Altera for $4.46 billion. That deal is predicted to shut later this yr.
This text initially appeared on Engadget at https://www.engadget.com/big-tech/intel-may-be-preparing-to-lay-off-20-percent-of-its-staff-161557058.html?src=rss