Intel has initiated significant layoffs, affecting thousands of employees across various divisions. New CEO Lip-Bu Tan had previously warned workers to expect these cuts as the company aims to streamline operations following years of declining sales and technical challenges. The layoffs will particularly impact the Intel Foundry division, which plans to cut 15% to 20% of its workforce. Additionally, Intel is shutting down its automotive technology business and outsourcing marketing to Accenture. With a reported $19bn loss last year, Intel is struggling to maintain its market position against competitors like AMD and Nvidia. The layoffs are expected to have a significant impact on Oregon’s economy, where Intel is the largest corporate employer.
Intel cuts jobs as crisis deepens
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