Intel has cut 35,500 jobs in less than two years — more than 20,000 let go in in recent months as Lip-Bu Tan continues drastic recovery journey

Intel cut 20,500 jobs under new CEO Lip-Bu Tan — totaling 35,500 in two years — and reduced R&D spending by over $800 million per quarter as it streamlines operations, cancels lower-priority projects, and concentrates investment on strategic projects.