Intel’s stock jumped early in 2025 as optimism built around new leadership, but shares fell over 9% after Thursday’s Q2 earnings and layoff announcement, threatening to erase

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

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 layoffs were confirmed in Intel’s official press release for Q2 2025. In it, Intel says that the layoffs will make the company “flatter” and “agile.” By the end of 2025, Intel expects to have around 75,000 employees.

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

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.