SAN FRANCISCO - Intel announced on Thursday a series of measures, including layoffs, company restructuring, elimination of non-core products, and return-to-office mandate, as the company reported its first-quarter earnings.

Intel has not specified the number of employees to lay off, but stated that the company will begin the adjustments in the second quarter and will implement them over several months.

According to a Bloomberg report citing an anonymous source, Intel would cut more than 20 percent of its workforce, which could equate to nearly 20,000 employees.

READ MORE: Intel to cut over 20% of workforce

Intel last laid off 15 percent of its workforce, approximately 15,000 employees, in August 2024.

Intel said it's reducing its operating expense target by $1.5 billion over the next two years. The company will reduce its operating expenses to 17 billion in 2025, a 500 million dollar cut, and aim for 16 billion dollars in 2026, a further 1 billion dollar reduction, according to its financial report.

In the first quarter of 2025, the company made an organizational change to integrate the Network and Edge Group (NEX) into the Client Computing Group (CCG) and the Data Center and AI Group (DCAI).

The company will also require all employees to be in the office for four days per week, effective September 1.

"I'm talking about the opportunity to fundamentally reinvent an industry icon. To pull off a comeback that will be studied in business schools for generations to come. To create new technologies and deploy them at scale to change the world for the better," Intel CEO Lip Bu-Tan said.

READ MORE: Intel to cut 15 percent jobs

"It's going to be hard. It will require painful decisions. But we will make them knowing it's what we must do to serve our customers better as we build a new Intel for the future - and I have great confidence in the power of our team and our people to make it happen." he added.