Intel is reportedly preparing to announce a workforce reduction exceeding 20% this week
The expected layoffs, which impact over 20,000 employees based on Intel’s workforce of 108,900 at the end of last year, are aimed at restructuring management and refocusing the company
In August of 2024, Intel made a statement that disclosed their intention to reduce their workforce by around 15,000 positions
The earlier cuts mainly affected non-engineering roles such as administrative staff, sales, marketing, and support functions
News is famous as Intel is scheduled to report its latest earnings this Thursday after the market closes
The news of layoffs comes at a time when the tech industry is facing various economic difficulties and companies are re-evaluating their operational efficiency
The official announcement from Intel will provide clarity on the details of this important restructuring and its impact on the company and the broader technology site