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Intel to lay off up to 20% of Intel Foundry workers
Intel plans to lay off 15% to 20% of its Foundry division workforce starting in July 2024, affecting an unknown number of its total 108,900 employees. This decision follows CEO Lip-Bu Tan's strategy to refocus Intel on core business units and was foreshadowed by earlier rumors and a previous layoff of 15% in August 2023.
Key points
- Intel will start layoffs in July 2024, affecting 15% to 20% of Foundry workers.
- The total Intel workforce was 108,900 as of December 2024.
- CEO Lip-Bu Tan is focusing on core business operations and an engineering-first approach.
- Previous layoffs impacted about 15,000 employees, or 15% of the staff, in August 2023.
- Rumors of the recent layoffs began circulating in April, ahead of the official announcement.
Why it matters
- The layoffs align with broader trends in the IT industry of restructuring amid economic pressures.
- As of 2025, many tech companies are pivoting to focus on efficiency, cloud computing, and semiconductor innovations.
- Intel's efforts reflect a growing industry-wide focus on core competencies, especially in manufacturing and design within the semiconductor market.
Intel's impending layoffs highlight a strategic shift under CEO Lip-Bu Tan, aimed at reinforcing efficiency in a challenging market environment, reinforcing the trend of tech companies prioritizing core business functionalities.