Reported 1 day ago
Intel Corp. is reducing its workforce by thousands and cutting expenses in an effort to revive its struggling business amid fierce competition from rivals like Nvidia and AMD. New CEO Lip-Bu Tan announced plans to reduce the core workforce to 75,000 employees and to halt projects in Germany and Poland, focusing instead on its core products and AI offerings. The company is also slowing construction of a semiconductor plant in Ohio, as it grapples with significant financial losses.
Source: YAHOO