Intel CEO alludes to layoffs as tech giant loses $821 million in Q1 [USA TODAY]
Intel Corporation (INTC)
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Source: USA TODAY
While specific layoff numbers haven't been released, reports suggest they could exceed 20% of Intel's global workforce. Intel Corp. plans employment reductions and a tighter return-to-work policy in coming months, but the company, a major employer in Chandler, didn't announce specific layoff numbers in a quarterly earnings report on April 24 or in a message from its new CEO. Media reports in recent days have suggested Intel could lay off more than 20% of its workforce, which numbered about 109,000 employees at the end of last year, including 12,000 in and around Chandler. The semiconductor giant lost $18.8 billion in 2024 amid a flagging performance. Intel posted a loss of $821 million in the quarter ending March 31, 2025, on revenue of $12.7 billion. That widened from a loss of $437 million, also on $12.7 billion in revenue, during the same stretch in 2024. New CEO Lip-Bu Tan stressed the need to revamp Intel's culture. "We are seen as too slow, too complex and too set in
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