"Intel is set to lay off at least 15% and up to 20% of its workforce in the Foundry division, as part of a refocusing strategy."
"CEO Lip-Bu Tan has indicated the need to return to core functions and an engineering-first approach, reflecting a significant strategic shift."
Intel will initiate significant layoffs, impacting 15% to 20% of its Intel Foundry division employees starting in July. This move follows CEO Lip-Bu Tan's emphasis on refocusing on core business and restructuring the organization. As of December 2024, Intel's workforce stood at approximately 108,900. Tan's strategy includes spinning off noncore units to prioritize engineering-driven growth, amid ongoing rumors of layoffs since April and a prior reduction of 15% of staff in August 2024.
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