Intel just announced another round of layoffs more than a year after CEO Lip-Bu Tan warned of “tough decisions” required to get the company back on track. This decision has resulted in the reduction of its headcount by more than 35,000 since 2024, when ex-CEO Pat Gelsinger revealed that its data center and foundry divisions have lost $1.6 billion. The latest announcement came months after the last job cuts and is still happening despite the company posting a strong first quarter this year. According to Oregon Live, its share price has more than tripled from a low of $23 per share to more than $96 today, with the data center group reporting sales of $5.1 billion for the first quarter. However, this good performance seems not to have affected the firm’s plan to streamline its operations.
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