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.

Intel stock fell early Friday after the chip maker provided softer-than-expected revenue forecast for the June quarter, citing uncertainty over tariffs.For the first quarter, Intel reported adjusted earnings of 13 cents a share,

Bu Tan, announced that it's laying off staff and tightening its return-to-office rule as the Bay Area giant tries to right its course.

Intel is set to unveil plans this week to slash more than 20% of its workforce, in a move to streamline operations and reduce bureaucratic inefficiencies, Bloomberg News reported on April 22, citing a person with knowledge of the matter.

Intel CEO Lip Bu-Tan announced a series of sweeping measures today, including an unspecified number of layoffs, a company restructuring, the elimination of non-core products, and a return-to-office mandate,