Sources: Intel will announce layoffs of over 20% this week

On April 23rd, according to a source familiar with the matter, Intel (INTC. O) will announce plans to lay off over 20% of its workforce this week, aimed at reducing the bureaucratic hierarchy of the struggling chip manufacturer. This insider stated that this move is aimed at streamlining management and rebuilding the corporate culture led by engineers. This will be the first major restructuring since the new CEO Chen Liwu took office last month. This round of layoffs follows last year's layoff plan of about 15000 people (announced in August last year). As of the end of 2024, the total number of Intel employees has decreased from 124800 in the previous year to 108900. (Golden Ten)