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Intel CEO announces massive layoffs, stricter in-office mandates, and huge spending cuts
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...
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. "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. Other internal changes Tan is implementing include fewer unnecessary meetings, reducing the number of attendees, and ensuring less administrative work at Intel.
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