Intel Corporation is facing a deep financial crisis, prompting it to more than double its planned layoffs in California. The chipmaker recently announced the termination of 410 employees in Santa Clara and an additional 174 in Folsom, citing ongoing struggles to remain competitive in the rapidly evolving semiconductor industry. The layoffs come in the wake of a staggering $19.2 billion net loss in 2024, primarily attributed to Intel falling behind rivals like Nvidia and AMD in the race for AI-driven chip innovation. According to company leadership, the decision is part of a broader restructuring strategy aimed at cutting operational costs, reducing manufacturing backlog, and simplifying internal management systems. A significant portion of the job cuts target engineering, legal, and technical roles. As Intel attempts to regain its footing in the global chip market, employees and analysts alike are closely watching how the company balances innovation with workforce stability. Ask ChatGPT
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