Intel to slash 22% of workforce as CEO tightens spending

Intel is going to end the year with a workforce that is over a fifth smaller than last year, it said on Thursday, and new CEO Lip Bu Tan presented a blueprint for a more cost-disciplined, streamlined chipmaker that would issue “no more blank checks.” The job cuts — a majority of which have been completed already — are part of an effort by Tan since he took the helm in March to turn around the storied U.S. chipmaker.

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