Intel Corp. is shedding thousands of workers and cutting expenses as its new CEO works to revive the fortunes of the struggling chipmaker that helped launch Silicon Valley but has fallen behind rivals like Nvidia Corp. and Advanced Micro Devices Inc.
In a memo to employees Thursday, CEO Lip-Bu Tan said Intel plans to end the year with 75,000 “core” workers excluding subsidiaries, through layoffs and attrition. That's down from 99,500 core employees at the end of last year. The company previously announced a 15% workforce reduction.
“I know the past few months have not been easy. We are making hard but necessary decisions to streamline the organization, drive greater efficiency and increase accountability at every level of the company,” Tan wrote.
In addition, Intel will scrap previously planned projects in Germany and Poland and also move assembly and test operations in Costa Rica to larger sites in Vietnam and Malaysia. Costa Rica will remain a “home to key engineering teams and corporate functions,” Tan said in the memo.
In the U.S., the company said it will “further” slow construction of a semiconductor plant in Ohio.
Founded in 1968 at the start of the PC revolution, Intel missed the technological shift to mobile computing triggered by Apple’s 2007 release of the iPhone, and it’s lagged more nimble chipmakers. Intel’s troubles have been magnified since the advent of artificial intelligence — a booming field where the chips made by once-smaller rival Nvidia have become tech’s hottest commodity.
The Santa Clara, California-based company's market cap was $98.71 billion as of the market close on Thursday, compared with Nvidia's $4.24 trillion.
Tan said Intel is focusing on its “core product portfolio” and artificial intelligence offerings to better serve customers.
“There are no more blank checks,” Tan wrote. “Every investment must make economic sense.”
For the second quarter, Intel reported a loss of $2.9 billion, or 67 cents per share, down from a loss of $1.6 billion, or 38 cents per share, a year earlier. Excluding one-time items, the company posted a loss of 10 cents a share.
Revenue was flat at $12.9 billion. Analysts, on average, were expecting adjusted earnings of 1 cent per share on revenue of $12 billion, according to a poll by FactSet.
FILE - The Intel logo is displayed on the exterior of Intel headquarters in Santa Clara, Calif., Jan. 12, 2011. (AP Photo/Paul Sakuma, File)
MINNEAPOLIS (AP) — President Donald Trump on Thursday threatened to invoke the Insurrection Act and deploy troops to quell persistent protests against the federal officers sent to Minneapolis to enforce his administration's massive immigration crackdown.
The president's threat comes a day after a federal immigration officer shot and wounded a Minneapolis man who had attacked the officer with a shovel and broom handle. That shooting further heightened the fear and anger radiating across the Minnesota city since an Immigration and Customs Enforcement agent fatally shot a Renee Good in the head.
Trump has repeatedly threatened to invoke the rarely used federal law to deploy the U.S. military or federalize the National Guard for domestic law enforcement, over the objections of state governors.
“If the corrupt politicians of Minnesota don’t obey the law and stop the professional agitators and insurrectionists from attacking the Patriots of I.C.E., who are only trying to do their job, I will institute the INSURRECTION ACT, which many Presidents have done before me, and quickly put an end to the travesty that is taking place in that once great State,” Trump said in social media post.
Presidents have indeed invoked the Insurrection Act more than two dozen times, most recently in 1992 by President George H.W. Bush to end unrest in Los Angeles. In that instance, local authorities had asked for the assistance.
The Associated Press has reached out to the offices of Gov. Tim Walz and Minneapolis Mayor Jacob Frey for comment.
The Department of Homeland Security says it has made more than 2,000 arrests in the state since early December and is vowing to not back down. ICE is a DHS agency.
In Minneapolis, smoke filled the streets Wednesday night near the site of the latest shooting as federal officers wearing gas masks and helmets fired tear gas into a small crowd. Protesters responded by throwing rocks and shooting fireworks.
Police Chief Brian O’Hara said during a news conference that the gathering was an unlawful assembly and “people need to leave.”
Things later quietened down and by early Thursday only a few demonstrators and law enforcement officers remained at the scene.
Demonstrations have become common on the streets of Minneapolis since the ICE agent fatally shot 37-year-old Good on Jan. 7. Agents have yanked people from their cars and homes, and have been confronted by angry bystanders demanding that the officers pack up and leave.
“This is an impossible situation that our city is presently being put in and at the same time we are trying to find a way forward to keep people safe, to protect our neighbors, to maintain order,” Frey, the mayor, said.
Frey said the federal force — five times the size of the city’s 600-officer police force — has “invaded” Minneapolis, scaring and angering residents.
In a statement describing the events that led to Wednesday's shooting, Homeland Security said federal law enforcement officers stopped a driver from Venezuela who is in the U.S. illegally. The person drove away and crashed into a parked car before taking off on foot, DHS said.
After officers reached the person, two other people arrived from a nearby apartment and all three started attacking the officer, according to DHS.
“Fearing for his life and safety as he was being ambushed by three individuals, the officer fired a defensive shot to defend his life,” DHS said.
The two people who came out of the apartment are in custody, it said.
O’Hara said the man shot was in the hospital with a non-life-threatening injury.
The shooting took place about 4.5 miles (7.2 kilometers) north of where Good was killed. O’Hara's account of what happened largely echoed that of Homeland Security.
During a speech before the latest shooting, Walz described Minnesota as being in chaos, saying what's happening in the state “defies belief.”
“Let’s be very, very clear, this long ago stopped being a matter of immigration enforcement,” he said. “Instead, it’s a campaign of organized brutality against the people of Minnesota by our own federal government.”
Jonathan Ross, the Immigration and Customs Enforcement officer who killed Good, suffered internal bleeding to his torso during the encounter, a Homeland Security official told The Associated Press.
The official spoke to AP on condition of anonymity in order to discuss Ross’ medical condition. The official did not provide details about the severity of the injuries, and the agency did not respond to questions about the extent of the bleeding, exactly how he suffered the injury, when it was diagnosed or his medical treatment.
Good was killed after three ICE officers surrounded her SUV on a snowy street a few blocks from her home.
Bystander video shows one officer ordering Good to open the door and grabbing the handle. As the vehicle begins to move forward, Ross, standing in front, raises his weapon and fires at least three shots at close range. He steps back as the SUV advances and turns.
Homeland Security Secretary Kristi Noem has said Ross was struck by the vehicle and that Good was using her SUV as a weapon — a self-defense claim that has been criticized by Minnesota officials.
Chris Madel, an attorney for Ross, declined to comment.
Good’s family has hired the same law firm that represented George Floyd’s family in a $27 million settlement with Minneapolis. Floyd, who was Black, died after a white police officer pinned his neck to the ground in the street in May 2020.
Madhani reported from Washington, D.C. Associated Press reporters Bill Barrow in Atlanta; Julie Watson in San Diego; Rebecca Santana in Washington; Ed White in Detroit and Giovanna Dell’Orto in Minneapolis contributed.
A protester yells in front of law enforcement after a shooting on Wednesday, Jan. 14, 2026, in Minneapolis. (AP Photo/John Locher)
Tear gas surrounds federal law enforcement officers as they leave a scene after a shooting on Wednesday, Jan. 14, 2026, in Minneapolis. (AP Photo/John Locher)
Protesters shout at law enforcement officers after a shooting on Wednesday, Jan. 14, 2026, in Minneapolis. (AP Photo/Abbie Parr)
Law enforcement officers stand amid tear gas at the scene of a reported shooting Wednesday, Jan. 14, 2026, in Minneapolis. (AP Photo/Adam Gray)
