Intel has cut 35,500 jobs in less than two years — more than 20,000 let go in in recent months as Lip-Bu Tan continues drastic recovery journey

Intel has undergone significant layoffs under CEO Lip-Bu Tan, with over 20,000 employees let go in recent months and a total reduction of 35,500 jobs in less than two years. The company's headcount dropped from 108,900 to 88,400, with restructuring charges exceeding $1 billion in Q2. Despite a revenue increase, Intel cut its R&D budget by over $800 million year-over-year and plans to maintain flat operating expenses at around $16 billion into 2026. The focus is now on right-sizing the company, investing in high-return projects, and maintaining cost discipline.