Intel is planning massive layoffs as part of a cost-cutting effort to regain lost market share. The layoffs are expected to affect thousands of employees worldwide as the company restructures its operations. This move comes as Intel faces increasing competition in the semiconductor industry, particularly from rivals like AMD and Nvidia. The layoffs are part of a broader effort to streamline operations and focus on core business areas to remain competitive in the rapidly changing tech landscape. Intel’s restructuring efforts are aimed at improving efficiency and profitability in the face of stiff competition.

Read more at Barchart: Intel Is Kicking Off a Major Layoffs Push. What Do the Job Cuts Mean for INTC Stock?