Layoffs are continuing at Intel: by the end of the week, 20 percent of employees are expected to be laid off, according to Bloomberg reporters Ian King and Jane Lanhee Lee. This means approximately 15 thousand people.
Last August, interim CEO Pat Gelsinger had halted dividend payments to reduce company expenses and laid off nearly 15 thousand employees.
Now the new leader, Lip-Bu Tan, is continuing the old style: he plans to simplify the management structure and lay off every fifth employee.
Which projects will be halted is currently unknown. However, Tan aims to benefit from Trump's tariffs by securing contracts for chip manufacturing in the U.S. and filling vacancies left by NVIDIA, AMD, and even TSMC.
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