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Intel Plans to Cut Thousands of Jobs to Assist Rebound
The chip giant experienced massive layoffs last year as well.
Intel Corp. is reportedly planning to cut thousands of jobs as part of a cost-cutting strategy aimed at funding a significant rebound effort. As per sources of Bloomberg, Intel's second-quarter earnings report is scheduled for Thursday and the job cut plan could be announced soon later this week. Under CEO Pat Gelsinger's leadership, the company has been investing heavily in research and development to enhance its technology and recoup its lost prominence in the semiconductor industry.
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