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Iran says coastal attack will lead to full Gulf closure and mine-laying

An attack on Iran's southern coast and islands will lead to Gulf routes being cut with the laying of sea mines, the country's Defence Council said on Monday, according to state media. The US is considering plans to occupy or blockade Iran's Kharg Island, the country's main oil export hub, to pressure Tehran to reopen the Strait of Hormuz to all shipping, according to Axios. "Any attempt to attack Iran's coasts or islands will cause all access routes in the Gulf (...) to be mined with various types of sea mines, including floating mines that can be released from the coast," the statement read. "In this case, the entire Gulf will practically be in a situation similar to the Strait of Hormuz for a long time (...) One should not forget the failure of more than 100 minesweepers in the 1980s in removing a few sea mines." The Defence Council recalled that non-belligerent states can only pass through the Strait of Hormuz by coordinating passage with Iran...
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Intel to lay off 20% of global workforce

Intel Corporation is planning to lay off more than 20% of its global workforce this week as part of a major restructuring strategy under newly appointed Chief Executive Officer Lip-Bu Tan, according to a report by Bloomberg News, citing a source familiar with the matter. The cuts are aimed at reducing bureaucracy, flattening the company’s organisational structure, and refocusing on engineering-led innovation. The exact number of affected employees and timeline for implementation have not been officially disclosed, though the move could impact tens of thousands across Intel’s global operations. Intel has not responded to media requests for comment. The job reductions would represent the second large-scale layoff at the company in less than a year. In August 2024, Intel announced plans to cut 15% of its workforce—approximately 15,000 employees—as part of a broader $10 billion cost-reduction initiative. This latest round marks the first significant operational move by CEO Lip-Bu Tan, who assumed the role in March 2025. Tan previously served as CEO of Cadence Design Systems and was a board member at Intel until mid-2024. His appointment follows a turbulent period for Intel, which reported a $19 billion loss in 2024—its first annual loss since 1986. Tan has outlined a strategic shift focused on simplifying Intel’s internal processes, removing layers of middle management, and realigning the company’s artificial intelligence and chip manufacturing roadmaps. During a recent employee town hall, Tan emphasised that “tough decisions” would be necessary to turn the company around. Sources indicate that Tan is also restructuring Intel’s leadership hierarchy. Key business units, particularly in chip design and manufacturing, now report directly to the CEO as part of a push to improve execution and speed up decision-making. Intel has faced increasing pressure from competitors in the semiconductor space, particularly Nvidia and Arm, both of which have made significant gains in AI and data centre markets. Intel’s previous efforts to reposition itself as a global chip foundry have been challenged by execution delays and high operational costs. Industry-wide, the tech sector continues to experience large-scale workforce reductions. According to Layoffs.fyi, more than 23,500 workers have been laid off across 93 companies in the tech industry so far in 2025. Google, Microsoft, Meta, and other major firms have also announced new rounds of cuts in efforts to streamline operations and reprioritise AI development. Intel is scheduled to report its Q1 2025 earnings on Thursday. Market analysts will closely watch the results and any accompanying guidance for insight into the company's cost structure, restructuring progress, and competitive positioning in the chip sector.

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