AssetID: 54939733
Headline: UNCAPTIONED: Intel to Cut 22% of Workforce Under New CEO's Overhaul
Caption: Intel to Cut 22% of Workforce Under New CEO's Overhaul. Intel will shrink its workforce by 22% by year's end, as new CEO Lip Bu Tan pushes a major overhaul of the struggling chipmaker. Most cuts are already done, including half of Intel's management layers. Tan, who took over in March, is slashing costs, selling off units, and ending what he calls "blank check" investments. He promises a leaner, customer-focused Intel—but investors remain skeptical. Shares dropped 4.5% after Intel forecast bigger Q3 losses than expected. Tan also cast doubt on the future of Intel's ambitious chip foundry business, once championed by former CEO Pat Gelsinger. With AI chip giants like Nvidia surging, Intel is racing to regain relevance and restore trust. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current affairs & Politics,Intel,workforce reduction,22% job cuts,Lip Bu Tan,CEO overhaul,cost-cutting,management cuts,unit sell-offs,blank check investments,chipmaker struggles,Q3 losses,investor skepticism,share drop,chip foundry business,Pat Gelsinger,Nvidia,AI chips,semiconductor industry,Intel restructuring,2025 tech layoffs
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