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M.O. Stevens
The source indicates that Intel is prepared to make this move to reduce bureaucracy, enhance management, and revive the company's culture grounded in an engineering mindset.
Bloomberg notes that in August 2024, Intel revealed it would eliminate 15,000 positions. Consequently, Intel employed 108,900 workers by the end of 2024.
The recent job reductions will be the initial significant reorganization action by the company’s incoming CEO, 65-year-old Lip-Bu Tan, who is set to assume leadership of Intel in March 2025.
The newspaper adds that Intel has historically led the market for processors in personal computers and data centers, yet has been sluggish in adapting to the transition towards AI. Consequently, sales have fallen for three consecutive years, and losses have increased.
source: bloomberg.com
Bloomberg notes that in August 2024, Intel revealed it would eliminate 15,000 positions. Consequently, Intel employed 108,900 workers by the end of 2024.
The recent job reductions will be the initial significant reorganization action by the company’s incoming CEO, 65-year-old Lip-Bu Tan, who is set to assume leadership of Intel in March 2025.
The newspaper adds that Intel has historically led the market for processors in personal computers and data centers, yet has been sluggish in adapting to the transition towards AI. Consequently, sales have fallen for three consecutive years, and losses have increased.
source: bloomberg.com
