Intels Workforce Reduction Reaches 23,000 Amid Strategic Restructuring Efforts

Over the past two years, the workforce at American Intel has seen a reduction of 23,000 employees. In the last year alone, the number of workers decreased by 16,000. Intel continues to lay off staff as part of the extensive cost-cutting measures announced by the company in the previous year.

In early February 2025, 58 employees at the company’s Folsom campus in California were laid off. Since January 2023, over 1,000 personnel have been terminated at this location. This recent event is the latest in a series of layoffs that began at the end of 2022.

Intel is working to regain its competitive edge in the semiconductor sector, which is increasingly dominated by Nvidia and AMD. The company is facing declining revenues, a shrinking market share, and challenges in executing its recovery strategy.

For the past year, Intel reported revenue of $53.1 billion, down from $54.2 billion the previous year. The company’s stock value dropped by 60% in 2024.

In 2025, Intel aims to reduce expenses by $10 billion. Last fall, the company announced plans to sell its real estate in Folsom and lease out part of the space.

By the end of 2024, Intel’s workforce numbered 108,900. In 2020, the company earned over $700,000 per employee, but this figure has since fallen to less than $440,000 after three years.

Intel is in the process of selecting a new CEO to succeed Pat Gelsinger, who departed in December. The chipmaker is also reducing employee bonuses, and it spent $900 million on restructuring in 2024.

At the end of February, Intel postponed the launch of its semiconductor plant in Ohio. This $28 billion facility is now set to be constructed by 2030, with production expected to commence a year later, whereas the original plan was to open the site in 2025.