Intel Is Reportedly Preparing to Lay Off More Than 21,000 Employees as Part of a Major Restructuring

Intel is planning to cut more than 21,000 jobs, which represents nearly 20% of its global workforce, according to a report by Bloomberg. Layoff announcements are expected this week, ahead of the company’s first quarter earnings call.

This decision comes under the leadership of the new CEO Lip-Bu Tan, who took over from Pat Gelsinger at the end of 2024. Tan’s strategy is to simplify operations and redirect Intel back to its engineering roots, following years of poor performance and a decline in investor confidence. Intel had already cut 15,000 jobs in August 2024, reducing its workforce to approximately 108,900 by the end of the year.

The company has faced ongoing challenges, with its shares falling nearly 67% over the past five years. In response, Tan has begun dismantling what he considers "non-essential" business units. Earlier this month, Intel sold a 51% stake in its Altera FPGA business unit to the venture capital firm Silver Lake, signaling a broader effort to focus on its core competencies.

The reported layoffs mark one of the largest workforce reductions in Intel's history and reflect the pressure Tan faces to shape the company's direction and restore investor confidence.