Intel announces major workforce reduction with plans to cut 25,000 jobs by the end of 2025 amid restructuring efforts to improve efficiency and address financial challenges.

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

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.

Analysts think Intel’s commentary signaled openness to cutting its foundry business later on, but for now there’s uncertainty around the company’s future.

Intel (INTC) is scheduled to report earnings after the closing bell today, with traders anticipating a sizable move from the struggling chipmaker's stock. Options pricing suggests traders expect Intel's stock could move more than 7% from its recent level near $23 by the end Friday’s trading session.

Intel's restructuring efforts focus on AI and core engineering. Short-term challenges persist, but a potential turnaround may emerge within 1-2 years. See more on INTC here.