This news follows layoffs of 15% last year and a memo from Tan earlier this year that referenced “critical changes [that] will reduce the size of our workforce.” (At the time, Bloomberg reported that Intel planned to cut over 20% of its staff, but the figure was never confirmed.)

Intel CEO Lip-Bu Tan announces 15% job cuts and cancels expansion plans as the company refocuses on core products, cost control, and execution.

Gov. Mike DeWine and the JobsOhio president responded to Intel's delayed Ohio plant, citing the chip industry's global challenges.

Despite layoffs, Intel appears to remain committed to its ongoing site expansion in Arizona as it retreats from other planned projects.

Intel Corp. is shedding thousands of workers and cutting expenses as its new CEO works to revive the fortunes of the struggling chipmaker that helped launch Silicon Valley but has fallen behind rivals like Nvidia Corp. and Advanced Micro Devices Inc.

Back in April, Intel Corp.’s newly appointed Chief Executive Officer Lip-Bu Tan told investors on his inaugural earnings call that turning around the troubled chipmaker would take time.

Even in the US, where there's a push for more domestic manufacturing, especially in semiconductors, by consecutive governments, Intel is ramping down construction. Lip-Bu Tan has said it is slowing construction on fabs in Ohio, which had already seen a delay to 2030 or beyond.