Rumor has it that Intel’s new CEO, Lip-Bu Tan, is ready to take the company on a slim-down journey, announcing a plan to chop off a staggering 20% of its workforce. That’s like slicing off your own arm and hoping you’ll still have enough left for a high-five at the company picnic.
After already shedding around 11,100 employees last year, Intel’s workforce was lopped down to 108,900. Now, if you’re keeping score, this latest round could leave a fresh layer of desolation to the already thinning ranks. According to a mysterious Bloomberg source (because who doesn’t love a good cryptic tip?), these cuts are in response to a ‘slow-moving and bloated middle management layer.’ Sounds like management has been getting a little ‘too comfortable’ in those office chairs, huh?
Expect more details to spill at Thursday’s earnings call—mark your calendars, folks! That’s when Intel will likely reveal if they’ll be making corporate history or simply creating a career support group for the recently laid-off.
In the world of tech, one thing is clear: job security is getting as rare as a payphone in a smartphone era. So, how does this news make you feel about your own job security? Popcorn ready for the earnings call?
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