Intel's new CEO signals streamlining efforts but does not spell out exact layoff numbers

Lip-Bu Tan, the new CEO of Intel, sent out a blunt message to employees saying the company has to reorganize to be more efficient. He said there would be a reduction in employees but he did not announce an exact number of layoffs as expected.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. A 20% cut would amount to roughly 21,780 jobs lost. And while the changes Tan announced today could result in considerab ...