Overview

• Intel is reportedly planning a 20% workforce reduction, impacting over 21,000 employees, with an official announcement expected this week.
• The layoffs mark the first significant restructuring move under new CEO Lip-Bu Tan, who assumed leadership in March 2025.
• This initiative builds on former CEO Pat Gelsinger's $10 billion cost-cutting plan but reflects a more aggressive approach under Tan's leadership.
• Intel's stock has reacted positively, with shares rising 4% during regular trading and an additional 2% after hours following reports of the planned layoffs.
• The restructuring comes as Intel faces mounting competition from AMD and Nvidia, with investors anticipating further updates at its upcoming Foundry Day event on April 29.