Intel to announce plans this week to cut more than 20% of staff

Quick Summary:

Layoffs would be the first major restructuring under new CEO Tan Lip-Bu, who took the helm in March.

The cutbacks follow an effort in 2024 to slash about 15,000 jobs – a round of layoffs announced in August.

The US chip giant lost its technological edge and has struggled to catch up with Nvidia in artificial intelligence computing.

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Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Lip-bu Intel Helm First Restructuring Major Layoffs Plans Took Week March

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-23 @ 09:05:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 336 words

Reading Time: 2 minutes read

Sentences: 17 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 28163034

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