Intel CEO Lip-Bu Tan announces 15% job cuts and cancels expansion plans as the company refocuses on core products, cost control, and execution.

The cuts don’t come as a huge surprise. Intel previously said it would remove some layers of management after a Bloomberg report suggested the company would slash more than 20% of the workforce. Intel hasn’t confirmed the total numbers.

Intel is going to end the year with a workforce that is over a fifth smaller than last year, it said on Thursday, and new CEO Lip Bu Tan presented a blueprint for a more cost-disciplined, streamlined chipmaker that would issue "no more blank checks.

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

There are no more blank checks,” says new Intel CEO Lip-Bu Tan, as the company slashes jobs, restructures operations, and pivots toward AI and efficiency.

Intel shares sank 8% on Friday after the company warned of exiting chip manufacturing if it fails to secure a major customer, a potentially drastic move by the new CEO to cut spending and revive the struggling American icon.

Intel slashed 24,000 jobs worldwide. The chip giant also cancelled multiple major projects in July 2025. This sweeping restructuring under CEO Lip Bu Tan aims

Investors will be questioning the chip maker’s strategy for the future more than worrying about its second-quarter earnings results, Bernstein analysts say

Unlike previous Intel layoffs, which offered severance or buyouts, the 2025 job cuts provide no such safety net.