Intel Corp (NASDAQ:INTC, ETR:INL) is preparing to cut more than 20% of its workforce as part of a major restructuring effort aimed at streamlining operations and reviving growth, Bloomberg reported, citing sources familiar with the matter.
The cull, expected to be announced this week, comes under the direction of new CEO Lip-Bu Tan, who took over last month with a mandate to reinvigorate the struggling chipmaker.
Tan is reportedly focusing on flattening Intel’s management structure and shifting toward a more engineering-led culture.
The planned cuts follow last year’s reduction of around 15,000 roles and are part of a broader $10 billion cost-saving programme.
The company, which had nearly 109,000 employees at the end of 2024, is due to release first-quarter earnings on Thursday.