Goa, April 23 -- Intel, the American chipmaking giant, is facing a tough time, and reports suggest that the company is set to lay off a big number of employees this week. The company's new CEO, Lip-Bu Tan, is working on a major plan to improve Intel, and the decision to cut jobs comes just a day before the company is set to announce its first-quarter results.

According to a Bloomberg report, CEO Tan plans to lay off more than 20% of Intel's workforce. As of the end of 2024, Intel had 108,900 employees. This follows the August 2024 layoffs, when the company let go of around 15,000 workers. Based on this 20% figure, about 21,000 jobs could be at risk, given the company's current workforce capacity.

The report also states that the new CEO'...