Intel is reportedly preparing to lay off more than 21,000 employees—about 20% of its total workforce—with an official announcement expected later this week, according to a Bloomberg report.
The news comes just ahead of Intel’s Q1 earnings call, which will be led by newly appointed CEO Lip-Bu Tan, who succeeded longtime CEO Pat Gelsinger last year.
According to Bloomberg, Tan is undertaking the sweeping job cuts to “streamline management and rebuild an engineering-driven culture.” At the end of last year, Intel had approximately 108,900 employees, following a previous round of 15,000 layoffs announced in August 2024.
Intel has faced ongoing challenges in recent years. Over the past five years, its stock has dropped roughly 67%. Since taking over as CEO in late 2024, Tan has begun spinning off parts of the company into “noncore” business units. Earlier this month, Intel sold a 51% stake in its Altera semiconductor unit to private equity firm Silver Lake.
Intel did not immediately respond to requests for comment.
