Struggling Intel Set To Cut 20 Of Its Workforce

The move is part of a bid to streamline management and rebuild an engineering-driven culture, according to the person, who asked not to be identified because the plans are private. It would be the first major restructuring under new CEO Lip-Bu Tan , who took the helm last month.

The cutbacks follow an effort last year to slash about 15 000 jobs - a round of layoffs announced in August. Intel had 108 900 employees at the end of 2024, down from 124 800 the previous year.

A representative for Intel declined to comment.

Tan is aiming to turn around the iconic chip maker after years of Intel ceding ground to rivals. The Santa Clara, California-based company lost its technological edge and has struggled to catch up to Nvidia in artificial intelligence computing. That contributed to three straight years of sales declines and mounting red ink.