The chipmaker’s new boss, Lip-Bu Tan, told employees that Intel needs to remove “organizational complexity” and become more engineer focused. Yesterday was an eventful day for shareholders and employees of Intel Corp.

Intel plans to eliminate 20,000 jobs or more across the company, Bloomberg reported Tuesday night, citing an anonymous source familiar with the chipmaker’s plans. The cutbacks would follow massive layoffs last year at the ailing chipmaker and the installation of a new CEO,

Link: Bloomberg | | bloomberg.com] Intel had over 120,000 employees after its 2022 layoffs, and its 2024 layoffs brought that total down to 108,900, but the company may downsize again. Bloomberg’s single “person with knowledge of the matter” says new CEO Lip-Bu Tan will cut 20 percent more.