Intel is gearing up to slash thousands of employees in multiple regions. Earlier it was estimated that the company would cut around 4k jobs. The upcoming layoffs that will impact engineers, senior leaders,

Intel CEO Lip-Bu Tan warned in April that the quest for efficiency would be accompanied by painful job losses. The semiconductor company had previously disclosed its intentions to cut 20% of its global workforce, which would equate to 21,000 workers worldwide.

A number of high-profile technology companies have announced job cuts this summer as the industry faces rapid change.