Intel Corporation announced plans to reduce its global workforce by approximately 15%, equating to around 24,000 job cuts, primarily affecting its factory and foundry employees. These layoffs are part of one of the largest workforce reductions in the company's history and are expected to begin in July 2025. The company is also scaling back expansion projects, including canceling planned semiconductor manufacturing facilities in Germany and Poland, and slowing construction in Ohio. Intel's second-quarter 2025 financial results showed revenue of $12.86 billion, slightly above estimates and flat year-over-year, but with an adjusted earnings per share loss of $0.10, missing expectations. The adjusted gross margin declined to 29.7% from an estimated 36.5%, and the operating margin was negative at -3.9%. Despite these challenges, Intel's foundry segment revenue grew 3% to $4.42 billion, while client computing revenue declined 3% to $7.87 billion, and data center and AI revenue increased 4% to $3.94 billion. The company expects third-quarter revenue between $12.6 billion and $13.6 billion with adjusted EPS around zero. Intel's new CEO, Lip-Bu Tan, is exploring a strategic shift in the chip manufacturing business, focusing more resources on next-generation chipmaking processes to gain competitive advantages. The company is also undertaking a $1.9 billion restructuring charge related to workforce reductions and reported an $800 million impairment. Operating cash flow was $2.1 billion, with capital expenditures projected at approximately $18 billion for 2025. These measures reflect Intel's effort to improve financial discipline and agility amid a challenging global semiconductor market environment.