Intel is preparing to let go of more than 21,000 workers this week, affecting nearly 20% of its staff, according to information shared by Bloomberg. 

The planned layoffs are expected just days before the company holds its quarterly earnings call, which will be led by its new chief executive, Lip-Bu Tan.

Tan stepped into the CEO position in late 2024, replacing longtime head Pat Gelsinger.

Since then, he has been making big changes to how the company operates.

One of his recent steps includes breaking off parts of Intel’s business that are no longer considered central to its main goals.

 Just a few weeks ago, Intel sold more than half of its Altera chip unit to a private equity firm, Silver Lake.

The tech company ended last year with around 108,900 employees.

This number came after Intel had already trimmed its workforce by about 15,000 in August 2024.

These new cuts will bring the total number of job losses to over 36,000 in less than a year.

Intel has faced ongoing challenges in recent times. Its stock value has dropped by around 67% over the past five years, reflecting the pressure it has been under in a fast-changing industry.

 As the company looks to recover, Tan appears focused on building a structure that leans more on engineering and less on complex management layers.

So far, Intel has not made an official comment about the expected job cuts.