Intel confirms it will cut a third of its workforce by the end of 2025

Intel provided more detail about the scope of its planned job cuts and other business changes while sharing its second-quarter earnings results. Reports in April suggested that Intel could eliminate around 20 percent of its staff in a restructuring plan. Today, the chipmaker said it anticipates having a core workforce of 75,000 employees by the end of 2025. That's about a third less than the 108,900 people it employed at the close of the previous fiscal year.

These cuts are part of the company's current goal to bring its non-GAAP operating expenses down to $17 billion this year, then to $16 billion at the end of 2026. The effort to rein in spending is also leading Intel to abandon some previously announced expa...