Intel has revealed plans to reduce its total workforce to 75,000 "core employees" and also expects to pull back from projects in Germany, Poland, the United States, and more.

We recently published These 10 Stocks Have Collapsed. Intel Corporation (NASDAQ:INTC) is one of the worst-performing stocks on Friday. Intel Corp. dropped its share prices by 8.53 percent on Friday to close at $20.

Intel employed 109,800 people at the end of 2024, of which 99,500 were “core employees,” so the company is pushing out around 24,000 people this year — shrinking Intel by roughly one-quarter. (It has also divested other businesses, shrinking the larger organization as well.)

The Silicon Valley chip company, which has been struggling, quantified the job cuts it is making as it seeks to turn its business around.

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

In a memo to employees on Thursday, Tan said Intel will reduce its “core” workforce excluding subsidiaries to 75,000 by the end of the year, down from 99,500 at the end of last year.

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.

A prominent investment analyst warned Intel may be cutting too deep, eliminating "pivotal" resources in the name of short-term profits.

Intel is shuttering its automotive architecture business and laying off most of its staff as part of a broader restructuring at the chipmaker.