“The current macro environment is creating elevated uncertainty across the industry, which is reflected in our outlook,” Intel chief financial officer David Zinsner said in the earnings report. Zinsner said he does not have an estimate for the size of the workforce reduction.

Intel Corp. Chief Executive Officer Lip-Bu Tan gave investors a stark diagnosis of the chipmaker’s problems on Thursday, along with the sense that it will take a while to fix them.

Intel shares fell nearly 6% in premarket trade on Friday after the chipmaker's weak revenue and profit forecast disappointed investors hoping for reassurances from new CEO Lip-Bu Tan's turnaround strategy.