Intel Plans to Cut More Than 20% of Staff, Source Tells Bloomberg

Dow Jones

2025/04/23

By Denny Jacob

--Intel is poised to announce plans this week to cut more than 20% of its staff, says Bloomberg, citing a person with knowledge of the matter.

--The move at the semiconductor company is part of efforts to streamline management and rebuild an engineering-driven culture, according to the report.

--This would be the first major restructuring under new Chief Executive Lip-Bu Tan, said Bloomberg.

--Intel didn't immediately respond to a request for comment, said Bloomberg.

Full story at https://www.bloomberg.com/news/articles/2025-04-23/intel-to-announce-plans-this-week-to-cut-more-than-20-of-staff?srnd=homepage-americas

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

April 23, 2025 07:12 ET (11:12 GMT)

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