Intel to lay off 20,000 employees to streamline operations 

Intel is preparing to lay off more than 20% of its global workforce as part of a sweeping plan to streamline operations and eliminate bureaucratic inefficiencies, Bloomberg News reported Monday, citing sources familiar with the matter.

The company, which employs more than 10,000 people in Israel, has not yet indicated how local operations will be affected. The layoffs - expected to be formally announced this week - are the first major step under new CEO Lip-Bu Tan, who took the reins last month with a mandate to revitalize the struggling chipmaker.

According to Bloomberg, the move is part of a broader strategic shift aimed at restoring Intel’s focus on engineering excellence and shedding layers of what Tan has called “slow-moving, bloated” middle management. Intel declined to comment on the report.

Tan’s arrival signaled an aggressive reset for the Silicon Valley giant. Just weeks ago, Reuters reported that he was considering major changes to Intel’s chip manufacturing and artificial intelligence strategy. In a recent internal town hall, Tan warned employees that the company was entering a period of “tough decisions” - a signal now materializing in the form of deep staff reductions.

The layoffs mark one of the largest cuts in Intel’s history and reflect growing pressure on tech companies to adapt amid evolving market demands and rising competition in the semiconductor space.