Intel to Cut Over 20,000 Jobs
23 April 2025 路 Uncategorized 路
On April 23rd, according to foreign media reports, Intel plans significant workforce reductions that could affect over 21,000 employees鈥攎ore than 20% of its total staff. This restructuring aims to streamline operations and reduce bureaucratic inefficiencies. The layoffs are expected to be announced this Thursday as the first major personnel action under new CEO Renxu Chen.
Previously, in August 2024, Intel had outlined plans for a workforce reduction of approximately 15%, or around 15,000 positions. The London Stock Exchange Group (LSEG) forecasts that Intel鈥檚 revenue will decline by 3.4% this quarter and anticipates losses to increase from $381 million last year ($2.46 billion RMB equivalent) to nearly $945 million ($6.81 billion RMB).
Since assuming office on March 18th, Chen has implemented a three-stage strategy for Intel鈥檚 revitalization: short-term restructuring through layoffs and cost reductions in non-core businesses; mid-term focus on advancing the Intel 18A process technology to close the gap with competitors like TSMC; and long-term business model reconstruction centered around high-growth areas such as AI and data centers.
The company is facing pressures from both industry competition and geopolitical risks, including potential additional tariffs鈥攆actors contributing to a forecasted increase in losses for Q1. Intel will announce its first-quarter earnings this Thursday, with analysts predicting declines across key divisions.
Previously, in August 2024, Intel had outlined plans for a workforce reduction of approximately 15%, or around 15,000 positions. The London Stock Exchange Group (LSEG) forecasts that Intel鈥檚 revenue will decline by 3.4% this quarter and anticipates losses to increase from $381 million last year ($2.46 billion RMB equivalent) to nearly $945 million ($6.81 billion RMB).
Since assuming office on March 18th, Chen has implemented a three-stage strategy for Intel鈥檚 revitalization: short-term restructuring through layoffs and cost reductions in non-core businesses; mid-term focus on advancing the Intel 18A process technology to close the gap with competitors like TSMC; and long-term business model reconstruction centered around high-growth areas such as AI and data centers.
The company is facing pressures from both industry competition and geopolitical risks, including potential additional tariffs鈥攆actors contributing to a forecasted increase in losses for Q1. Intel will announce its first-quarter earnings this Thursday, with analysts predicting declines across key divisions.