This[1] seems to be the Bloomberg article it's referencing. It doesn't say it will lay off 20% of staff like this article is referencing, just "thousands" and:

"Some divisions, including Intel’s sales and marketing group, could see cuts affecting about 20% of staff, according to the people."

Some divisions, not the entire company.

Also this is in the article:

"Intel’s last big wave of layoffs occurred in 2016, when it trimmed about 12,000 jobs, or 11% of its total."

So if the headline were accurate, this would be twice as many people as six years ago. While it's possible that will be the case, I'm guessing it's more likely the number will be closer to the 2016 number.

I think this article misinterpreted the source article, either by accident or deliberately for a juicier headline, and should be replaced by the Bloomberg article instead.

[1]: https://www.bloomberg.com/news/articles/2022-10-11/intel-is-...