Intel To Slash Over 20% of Workforce in Major Restructuring Move (bloomberg.com)
The Santa Clara-based company has suffered three consecutive years of declining sales while losing technological ground to competitors, particularly Nvidia in the AI computing sector. Tan, who took over last month, has already begun divesting non-core assets, recently [2]selling a 51% stake in Intel's programmable chips unit Altera to Silver Lake.
[1] https://www.bloomberg.com/news/articles/2025-04-23/intel-to-announce-plans-this-week-to-cut-more-than-20-of-staff
[2] https://slashdot.org/story/25/04/14/1943245/intel-to-sell-majority-stake-in-altera-for-446-billion-to-fund-revival-effort