Intel The corporation is ready to announce the plans this week to reduce more than 20% of its staff, heading for the elimination of the bureaucracy in the fighting manufacturer of the chips, reports a person who knows about it.
This step is part of the application for streamlining and restoration of engineering culture, the man said, asking him not to determine because the plans are private. This would be the first major restructuring under the new Chief Executive Director Lip-Bu Tan, whichtook the helmLast month.
Last year last year follow the efforts to cut about 15,000 jobs – round -the -layingannounced in August. At the end of 2024, Intel was 108 900 employees, compared to 124,800 last year.
Intel’s representative refused to comment.
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On Wednesday, Intel’s New Yarr shares increased by 6.5%, their largest in a week. Last year, shares decreased by about 40% and closed $ 19.51 on Tuesday.
Tan seeks to turn the iconic chips after many years of rivals. Santa Clara, California Nvidia Corporation in computing artificial intelligence. This contributed to reducing sales by three years and mounting red ink.
Tan, veteran Cadence design systems Inc,sworeTo unscrew the Intel assets that are not main in his mission and create more convincing products. Last week companyagreed to sell51% of the shares in its programmable CHIPS Altera to Silver Lake Management, a step to this goal.
Intel must replace the engineering talent he lost, improved his balance and best production processes at the needs of potential customers, Tan last month at the Intel Vision Conference.
It is planned that the company will report the results of the first quarter on Thursday, giving Tan the opportunity to outline more of its strategy. Although, according to Wall -State, the worst of Intel’s income is, analysts do not predict a return to previous sales levels over the years.
The 65-year-old executive director was hired after last year’s dismissal CEO of PJS Helinger, who fought for fulfilling his own Intel application. He started expensive efforts to expand the company’s company-and sought to turn Intel into a commission chips.
But Intel has now tightened most of his advanced effort, including plans onOioIt was expected that this would be the world’s largest production of chips. Intel was also ready to become the largest beneficiary of money since 2022 Inquis And the Law on Science, but this program is now in the stream under President Donald Trump.
Read on:What is speaking like Trump looks to deprive the act of chips
Production partnership with Production of semiconductors at Taiwan Co. – SourceSpeculation of the investorIn recent months – also it seemsless likely to happen. Last week, the CEO of the TSMC CC Wei said the company would remain focused on its own business.
On the way Intel missed the most profitable new field for industry chips over the decades. A company that has long dominated the personal computer processors market and data centers slowly responded to the transition to II. This upheaval allowed Nvidia to develop from a niche player into the most valuable semiconductor company in the world – with a profit that now darkens the sales of Intel.
Read on:As we missed the chance to head in the chips: Quicktake
Helinger himself acknowledged that the company lost its competitive spirit and expressed disappointment with which it reacted to the changing market. He was not given time when he said he needed to do something. Tan, in his first public speech as CEO last month, stated that the turn would take time and it would be difficult.
“It won’t happen for the night,” he said. “But I know we can get there.”
Originally this story was presented on Fortune.com
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2025-04-23 17:12:00
Jane Lanhee Lee, Ian King, Bloomberg
