This news follows layoffs of 15% last year and a memo from Tan earlier this year that referenced “critical changes [that] will reduce the size of our workforce.” (At the time, Bloomberg reported that Intel planned to cut over 20% of its staff, but the figure was never confirmed.)

The chipmaker plans to reduce headcount from 96,400 to 75,000 employees amid restructuring and steeper Q3 losses.

Other technology giants including Microsoft, Google and Amazon have trimmed their workforces in recent months.