Intel is planning significant workforce reductions, with reports indicating up to 20,000 job cuts, including plans to cut 15,000 jobs, as part of a broader strategy to address financial challenges. The company aims to cut $10 billion in capital expenses by 2025, largely due to its inability to capitalize on the booming AI market. Additionally, Intel is addressing technical issues with its 13th and 14th generation processors, releasing microcode patches to fix these problems, including the Raptor Lake series. The '0x129' microcode fix is noted to potentially impact performance in limited scenarios. The company has also delayed its Innovation event to 2025 amid these layoffs and uncertainties.