Intel Layoffs: Chipmaker To Cut Over 24,000 Jobs This Year As Part Of Company Restructuring
CEO Lip-Bu Tan says Intel plans to end the year with 75,000 "core" workers, excluding subsidiaries, via layoffs and attrition, down from 99,500 core staff at the end of last year.
Intel Layoffs 2025: Chipmaker Intel Corp is planning to end the year with 75,000 'core" workers, excluding subsidiaries, through layoffs and attrition, CEO Lip-Bu Tan said in a memo to employees. The number is down by 24,500 as compared with the 99,500 core employees at the end of last year.
'I know the past few months have not been easy. We are making hard but necessary decisions to streamline the organization, drive greater efficiency and increase accountability at every level of the company," Tan wrote in the memo on July 24, 2025.
He said the company is focusing on its 'core product portfolio" and artificial intelligence offerings to better serve customers.
'There are no more blank checks," Tan wrote. 'Every investment must make economic sense."
The struggling chipmaker also said it has mostly completed the plans it announced last quarter to cut 15% of its workforce.
In addition, Intel will scrap previously planned projects in Germany and Poland and also move assembly and test operations in Costa Rica to larger sites in Vietnam and Malaysia. Costa Rica will remain a 'home to key engineering teams and corporate functions," Tan said in the memo.
In the US, the company said it will 'further" slow construction of a semiconductor plant in Ohio.
Intel CEO Lip-Bu Tan, who assumed the role of Intel's CEO in March, has been working on sweeping reforms at Intel, including a revamp of its AI roadmap and chip manufacturing operations. In April, he said the company plans to cut operating expenses by $500 million this year and another $1 billion next year.
Intel Q2 Earnings
For the second quarter, Intel reported a loss of $2.9 billion, or 67 cents per share, down from a loss of $1.6 billion, or 38 cents per share, a year earlier. Excluding one-time items, the company posted a loss of 10 cents a share.
Its revenue was flat at $12.9 billion. Analysts, on average, were expecting adjusted earnings of 1 cent per share on revenue of $12 billion, according to a poll by FactSet.
Founded in 1968 at the start of the PC revolution, Intel missed the technological shift to mobile computing triggered by Apple's 2007 release of the iPhone, and it's lagged more nimble chipmakers. Intel's troubles have been magnified since the advent of artificial intelligence — a booming field where the chips made by once-smaller rival Nvidia have become tech's hottest commodity.
The Santa Clara, California-based company's market cap was $98.71 billion as of the market close on Thursday, compared with Nvidia's $4.24 trillion.
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