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Jun 19, 2025
Intel announces major job cuts, no buyouts
Intel is set to cut over 10,000 jobs this July as part of a big shake-up led by new CEO Lip-Bu Tan.
The layoffs will hit about 15-20% of the Foundry team across 15 wafer fabrication plants, all in response to recent financial struggles—including an $821 million loss earlier this year.
TL;DR
Who stays and who goes
Who stays and who goes is being decided through performance reviews and skills checks—there aren't any voluntary buyouts or early retirements on the table.
Intel's Manufacturing VP Naga Chandrasekaran admitted in a memo that these choices are tough but necessary.
The move is part of Tan's push to revive Intel's engineering culture as it faces tough competition from NVIDIA and waits for government funding decisions.