Intel layoffs: Chipmaker cuts 15% of its workforce, scraps multibillion-dollar chip expansion plans

Intel said in a statement on Thursday that 15% of the last quarter announced that it has completed the interruption. In particular, the dismissal was one of the first decisions taken by the new Intel CEO Lip-Bu Tan when he took over the company in March.

In a press release on the call for Intel, Tan said, “We will take time, but we see clear opportunities to improve our competitive position, increase our profitability and create long -term shareholder value.”

As a part of cost reduction measures, Intel, Germany and Poland, with withdrawal from the planned projects, at the same time the assembly and test operations in Costa Rica will end the test operations, he said.

Intel, at the end of 2024 99,500 ‘nucleus employees’ as 1,09,800 employed. However, the chip manufacturer says he wants to finish the year with only 75,000 nuclei employees.