The memo directly addresses:
“We are making hard but necessary decisions to streamline the organization, drive greater efficiency and increase accountability at every level of the company,” Tan, who took over as CEO in March, wrote.
Intel’s stock jumped early in 2025 as optimism built around new leadership, but shares fell over 9% after Thursday’s Q2 earnings and layoff announcement, threatening to erase most yearly gains.
For this story, Fortune used generative AI to help with an initial draft. An editor verified the accuracy of the information before publishing.
