Intel Corporation is undergoing a major transformation. In an effort to bounce back from years of slipping market share and missed opportunities, the once-dominant chipmaker is laying off thousands of workers and scaling back global operations.

CEO Lip-Bu Tan, who took the helm with a mandate to turn things around, announced that Intel will end the year with 75,000 core employees—down from 99,500 just a year ago. This 25% workforce reduction is part of what Tan calls “hard but necessary decisions” to boost efficiency, eliminate redundancy, and increase accountability at every level of the company.

The cuts won’t stop at staffing. Intel is also scrapping previously announced projects in Germany and Poland and relocating its assembly and test operations in Costa Rica to larger, lower-cost facilities in Vietnam and Malaysia. While Costa Rica will retain some corporate and engineering functions, it’s a clear sign of consolidation. Continue reading Intel Slashes Jobs and Projects as New CEO Tries to Revive the Chip Giant →