The chipmaker plans to reduce headcount from 96,400 to 75,000 employees amid restructuring and steeper Q3 losses.

Intel is continuing to (aggressively) cut its workforce, with plans to cull 30% of its global workforce down from 90,000 to 75,000.

Intel has said that it has completed the majority of the layoffs it announced earlier this year which will reduce its global workforce by around 15%.

Germany and Poland as new CEO Lip-Bu Tan pushes a major restructuring effort. The move aims to reduce costs and refocus on AI chips after continued losses and growing pressure from competitors.

Intel is slashing 31% of its workforce and halting global expansion projects in a sweeping restructuring effort as it struggles to compete with AI chip leader Nvidia and regain its edge in the rapidly evolving semiconductor industry.

Intel Corp. is shedding thousands of workers and cutting expenses as its new CEO works to revive the struggling chipmaker’s fortunes

Intel CEO Lip-Bu Tan told employees in a staff-wide memo yesterday that the company plans to cut its workforce by roughly 15%—more than 25,000 jobs—aiming to end the year with about 75,000 employees worldwide.