Intel is undergoing significant changes as its new CEO, Lip-Bu Tan, unveils plans to restructure the company and mandate increased in-office work, ordering employees back to the office four days a week. To address financial difficulties, Intel is reportedly set to lay off over 20% of its workforce, translating to approximately 21,000 job cuts. This decision comes in the wake of a staggering $821 million loss and aims to streamline operations and refocus on core chip production amidst rising competition, particularly from Nvidia in the AI sector. The changes reflect a shift towards a leaner organizational structure, with Tan emphasizing the need to reduce bureaucracy and enhance innovation within the tech giant. While market reactions have shown some optimism, the impending layoffs and cost reductions highlight the challenges facing Intel in the current economic climate.