Intel is reportedly preparing to announce a workforce reduction exceeding 20% this week. The move is intended to streamline operations and reduce bureaucracy within the company as it struggles to regain its footing in the competitive semiconductor market. This significant staff cut reflects Intel's broader efforts to revitalise its business and improve efficiency. The announcement comes as Intel faces increasing pressure from rivals like AMD and TSMC, who have been gaining market share in key segments. The company's restructuring aims to free up resources for strategic investments in areas such as advanced manufacturing and new product development.
The planned job cuts are expected to impact various departments across the company, with a focus on non-essential roles and overlapping functions. Intel hopes that a leaner organisation will enable faster decision-making and more agile responses to market changes. The company is also looking to reduce operating costs and improve its overall financial performance. While the exact details of the restructuring plan are still under wraps, the scale of the anticipated job cuts indicates a major shift in Intel's strategy. The announcement will likely be closely watched by investors and industry analysts, as it could have significant implications for the future of the company and the broader semiconductor industry.