The hits keep coming for Intel, with the company planning to let thousands of employees go in a new round of layoffs that could happen this week.

Intel is trying to turn around its fortunes under CEO Pat Gelsinger. Unfortunately, the company has hit multiple speed bumps along the way, including multiple rounds of layoffs. Intel had at least two rounds of layoffs in 2023, impacting its Cloud, GPU, and data center divisions.

According to Bloomberg, sources have confirmed that the company is preparing for another round of layoffs, one that may be substantially larger than some of the the previous ones. The company is reportedly hoping the layoffs will help it continue to fund its turnaround and offset its market share losses.

The outlet’s sources asked not to be identified, but did confirm the layoffs could be announced as early as this week.