Intel to shrink headcount by 25,000, posts $3.7b loss in Q2

Intel, the ailing semiconductor giant, said on July 24 that it expects its workforce to shrink by more than 25,000 employees in 2025 as the company continues searching for a turnaround.

- Don Clark

NEW YORK - Intel, the ailing semiconductor giant, said on July 24 that it expects its workforce to shrink by more than 25,000 employees in 2025 as the company continues searching for a turnaround.

The chipmaker, which reported 108,900 employees at the end of 2024, said it now expects layoffs, attrition and other actions to reduce its headcount to 75,000 by the end of 2025.

Intel also disclosed it will no longer move forward with plans to build factories in Germany and Poland, further slow the pace of new factory construction in Ohio and consolidate operations in Costa Rica to larger sites in Vietnam and Malaysia.

Intel had signaled the need to cut costs in April. On July 24, it said it had cut its workforce since then by about 15 per cent, which indicates around 15,000 people were affected. The latest cuts follow a reduction of more than 15,000 jobs in 2024.