Intel to announce plans this week to cut over 20% of staff

New CEO is aiming to turn around the iconic chipmaker after years of Intel ceding ground to rivals.

Intel had 108,900 employees at the end of 2024, down from 124,800 the previous year.

Intel is poised to announce plans this week to cut more than 20% of its staff, aiming to eliminate bureaucracy at the struggling chipmaker, according to a person with knowledge of the matter.

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 Chief Executive Officer Lip-Bu Tan, who took the helm last month.