Intel is laying off 15,000 jobs across multiple states, as part of its strategy to become leaner and more agile in response to competitive pressures.
These cuts, which include significant job losses in California and Oregon, represent a permanent shift for the company to bolster its long-term sustainability and growth.
Intel's spokesperson stated, 'These are the most difficult decisions we ever make,' highlighting the company's challenges as it navigates a competitive landscape.
Despite receiving $3 billion from the U.S. government, Intel's need for cash illustrates its struggles in both chip manufacturing and design against rivals like Nvidia.
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