Intel will soon lay off more than 20 percent of its workforce, according to a report by Bloomberg. The move is reportedly aimed at reducing middle management at the chipmaker. Intel had 108,900 employees as of the end of 2024, so the upcoming cuts would likely see over 20,000 fired.
The job cuts would be one of the first major moves made by Intel since the company appointed Lip-Bu Tan as CEO. Tan also announced an agreement to sell 51 percent of Intel's stake in Altera, an FPGA (programmable) semiconductor manufacturer, indicating that Intel's new CEO is willing to make drastic changes to restore the company.
