Intel's new CEO is reportedly considering drastic measures to reshape the company's culture and operations, with potential impacts on thousands of employees in the Valley.
The layoffs are an effort to cut bureaucracy and rebuild "an engineering-driven culture," according to the story, based on an unnamed source. The cuts would be the most dramatic move by Tan to revive the company (Nasdaq: INTC) since he became CEO in March.
Intel did not respond to Bloomberg's article.
Intel already slashed its workforce by about 13% under Tan's predecessor Pat Gelsinger, who revealed plans for 15% companywide reduction in 2024.
Intel is one of the Valley's largest employers, with nearly 10,000 people — down from more than 12,000 a year ago. The company's Ocotillo campus in Chandler is also currently undergoing a $32 billion expansion that is expected to deliver this year and create 3,000 jobs.
