MW Intel reportedly to slash more than 20% of its workforce amid latest restructuring

By Mike Murphy

Intel Corp. is planning to announce cuts to more than 20% of its workforce this week, Bloomberg News reported Tuesday night, in what would be the the first major restructuring under new Chief Executive Lip-Bu Tan.

The layoffs would affect roughly 22,000 workers, based on Intel's global workforce of 108,900 as of the end of 2024. Last year, Intel $(INTC)$ announced it would lay off 15,000 employees in an effort to downsize and become more efficient.

According to Bloomberg, the latest restructuring seeks to streamline management and re-establish Intel's engineer-driven corporate culture.

Intel did not immediately respond to a request for comment.

Tan, who took over at Intel in March, previously announced the chip giant would sell its majority stake in its Altera business, and said he intends to spin off some of Intel's "non-core" businesses as part of his turnaround efforts.

Intel is scheduled to report first-quarter earnings Thursday. The company is in a precarious position, having fallen far behind its rivals at producing AI chips and facing the effects of the Trump administration's trade war with China.

Read more: Intel's earnings outlook could be 'useless.' Here's what matters instead.

Intel shares have slid nearly 20% over the past month, and are down 43% over the past 12 months,

-Mike Murphy

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April 22, 2025 21:34 ET (01:34 GMT)

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