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Intel to Cut 20% of Workforce in Major Restructuring Under New CEO
According to Bloomberg, Intel is poised to reveal plans later this week to reduce its workforce by approximately 20%, marking its first major restructuring initiative under new CEO Lip-Bu Tan. As of December 2024, Intel employed around 108,900 staff members, suggesting a potential impact on roughly 21,780 employees. The move signifies a strategic shift aimed at streamlining operations and improving financial performance amid industry challenges. This restructuring underscores Intel's commitment to adapting its business model in a competitive landscape, optimizing resources, and focusing on growth opportunities. The announcement is a significant development in the tech industry, highlighting Intel's proactive approach to organizational efficiency and long-term sustainability.
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