Intel is reportedly preparing to lay off more than 21,000 employees, approximately 20% of its total workforce, according to a report from Bloomberg. The company is expected to officially announce these substantial cuts later this week, coinciding with its first-quarter earnings report led by newly appointed CEO Lip-Bu Tan, who stepped into the role after longtime chief executive Pat Gelsinger’s departure last year.
This latest round of layoffs is part of Tan’s broader strategy to streamline company management and refocus Intel around an engineering-driven organizational culture. At the close of last year, Intel’s global workforce stood at about 108,900 people, following an earlier announcement of 15,000 layoffs in August 2024.
Intel has faced considerable challenges in recent years, evident in a roughly 67% decline in its stock price over the past five-year period. Since taking over leadership at the end of 2024, Tan has pursued aggressive restructuring efforts, categorizing several divisions as “non-core” and planning spin-offs to strengthen the company’s main operations. Notably, in recent weeks Intel agreed to sell a 51% stake of its Altera semiconductor business to private equity firm Silver Lake.
Intel has not yet provided any official comment in response to this reported restructuring.
