Intel reportedly set to announce another round of layoffs this week: 21,000 out of jobs

Intel is set to announce yet another round of layoffs, with around 20% of its global workforce to see their jobs cut, representing around 21,000 positions.

In a new report from Bloomberg, we're learning that the Intel layoffs would be happening this week with the company aiming to "eliminate bureaucracy at the struggling chipmaker" according to a person familiar with the matter. The move is part of a bid to streamline management and rebuild an engineering-driven culture according to Bloomberg's source.

Intel cut around 15,000 positions in August 2024, with its global workforce dropping from 124,800 employees in 2023 to 108,900 last year... and now with another 20,000 positions slashed, Intel's global workforce will dwindle down to 88,900.

Intel's new CEO Lip-Bu Tan will see his big first move to turn the company around after many, many years of struggling... but slicing and dicing its workforce isn't going to help in the long run if it doesn't pull itself out of a semiconductor hole.

Intel has had multiple delays on its products and semiconductor expansions, lost and missed partnerships, all the while taking in tens of billions of dollars from the CHIPS Act under the Biden administration. It has almost fully missed the AI boat, letting other huge tech giants like NVIDIA absolutely dominate, while bleeding CPU market share to AMD for years now.