In a way, Intel just reported its best quarter in years. But given the harsh realities the chip maker faces, that’s no longer enough. Strong PC shipments by manufacturers looking to get ahead of tarif

Intel said Thursday it has mostly completed plans it announced last quarter to cut 15% of its workforce, as the struggling chipmaker attempts a turnaround.

The American chip-making giant is facing a strategic crossroads as it chases rivals like Nvidia and TSMC in the global silicon boom.

Intel is planning to separate its networking and communications unit into a stand-alone company and has begun the process of identifying investors, the chipmaker said on Friday, as new CEO Lip-Bu Tan looks to streamline its operations.

Intel CEO Lip-Bu Tan told employees in a staff-wide memo yesterday that the company plans to cut its workforce by roughly 15%—more than 25,000 jobs—aiming to end the year with about 75,000 employees worldwide. The cuts are part of the struggling chipmaker’s efforts to turn things around and compete in the booming AI market.

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.

Intel Corp. is shedding thousands of workers and cutting expenses as its new CEO works to revive the struggling chipmaker's fortunes.

Intel’s stock dropped 9% after the chipmaker said it would slash foundry costs in its latest attempt to turnaround its struggling business.