Billions in chip projects scrapped in Europe.
INTEL TO LAY OFF 15% OF WORKERS, CANCEL BILLIONS IN PROJECTS IN BID FOR REBOUND-WSJ
— First Squawk (@FirstSquawk) July 25, 2025
INTEL EMPLOYEE COUNT BY YEAR
2022: 131,900
2023: 124,800
2024: 108,900
2025: 75,000INTEL HAS LAID OFF NEARLY 45% OF ITS WORKFORCE OVER THE LAST 4 YEARS$INTC https://t.co/pjYvT9mYxf
— GURGAVIN (@gurgavin) July 24, 2025
Intel said Thursday it has mostly completed plans it announced last quarter to cut 15% of its workforce, as the struggling chipmaker attempts a turnaround.
The layoffs, tucked in Intel’s second quarter earnings report, marked one of the first major decisions by new CEO Lip-Bu Tan, who took over the company’s top job in March.
“It’s going to take time, but we see clear opportunities to enhance our competitive position, improve our profitability and create long-term shareholder value,” Tan said in a press release announcing the earnings results.
https://www.cnn.com/2025/07/24/tech/intel-layoffs-15-percent-q2-earnings