Intel is reducing its workforce by over 20% as part of major cost-cutting efforts driven by financial pressures, including falling revenues and shrinking profit margins due to declining demand in key markets like PCs and data centers. The company is restructuring to focus more on strategic growth areas such as artificial intelligence and semiconductor manufacturing. Affected employees are being offered severance packages, which in some cases include up to eight weeks of pay per year of service, capped at two years’ salary. Intel has also introduced voluntary exit programs and enhanced retirement options as part of the transition.