Intel to announce job cuts for 20% of its workforce

Intel is preparing to announce significant global job cuts this week, with reports indicating that more than 20% of its workforce could be affected.

The move, first reported by Bloomberg News, is part of a broader effort to streamline operations and cut down on internal bureaucracy.

The restructuring is said to reflect a renewed focus on engineering and innovation under the leadership of new CEO Lip-Bu Tan, who took the helm last month.

Tan is expected to unveil a new strategic direction for the company, including changes to its chip manufacturing processes and artificial intelligence strategy.

While Intel has yet to comment officially, the layoffs mark the first major step under Tan’s leadership to address what he reportedly described as an overly complex management structure.

He has already begun flattening the leadership team, with key chip divisions now reporting directly to him.

This round of layoffs follows a previous announcement in August 2024, when the company said it would cut 15% of its workforce—approximately 15,000 jobs—as part of a $10bn global cost-cutting initiative.

Intel, which is headquartered in Santa Clara, California, employs 108,900 people globally, including around 4,900 at its large-scale manufacturing facility in Leixlip, Co Kildare.

It remains unclear at this stage how the latest cuts might impact the Irish operation.

Intel is due to release its Q1 earnings report tomorrow, April 24, which may provide further clarity on its future direction and the potential implications for its workforce.

*This article was originally published on BusinessPlus.ie.