Intel continues its path to stop the money haemorrhaging, and major efforts are underway to regain some semblance of market leadership. New CEO Lip-Bu Tan has been in the job for over five months now, and he’s made some stark admissions and big changes to correct the big boat that is Intel.
Despite last quarter’s revenue exceeding guidance, Intel will remain on shaky ground if nothing is done. The company’s staff is still top-heavy. After former CEO Pat Gelsinger’s prior cuts brought staffing from 131,000 to 100,000, Tan has announced a further reduction to 75,000 employees by year’s end. For context, AMD and Nvidia have about 28,000 and 36,000 staff, respectively, while TSMC, its main fabrication rival, employs 84,000. Tan’s push to also eliminate work-from-home is aimed at restoring profitability,…
