In a note to investors, Tan wrote that Intel would be streamlining its operations. That means cuts to various departments, the end of non-core products, a change.
What just happened? Intel employees got some bad news in the company’s earnings call yesterday. Not only is new CEO Lip-Bu Tan implementing a new round of job cuts that could see more than 20,000 people laid off, he is also increasing the number of days that hybrid workers must come into the office.
In a note to investors, Tan wrote that Intel would be streamlining its operations. That means cuts to various departments, the end of non-core products, a change to the return-to-office mandate, and layoffs.
„There is no way around the fact that these critical changes will reduce the size of our workforce“, said Tan. „As I said when I joined, we need to make some very hard decisions to put our company on a solid footing for the future.“
„We need to get our balance sheet healthy and start the process of de-laborating this year“, he added, which seems to be another newly invented corporate term for ending people’s employment.
Tan never revealed how many workers Intel would be laying off, but previous reports suggest the number will be substantial.
