In a bold move to tackle bureaucratic inefficiencies, Intel's new CEO, Pat Gelsinger, has announced plans to lay off more than 20% of the company's workforce. This marks the first significant layoff since his appointment, aimed at streamlining management levels, introducing a flatter organizational structure, and re-establishing an engineering-centric corporate culture to address the company's prolonged challenges. Additionally, Gelsinger is overhauling key chipsets and taking personal charge of core business units.
