Chipmaker Intel has announced that it would lay off an unspecified number of employees to cut costs and improve margins. According to a report by OregonLive, Intel did not mention exactly how many jobs would be cut and from which locations; however, it pointed out that each company unit would to make its own decisions. The Chipmaker said it would focus on cost reductions and improve its margins via multiple initiatives. The company said that as a part of this broader initiative, some units would make business or function-specific job cuts decisions. In April, Intel had laid off unspecified people, and its subsidiary company, Moovit, announced this week that it would cut nearly a dozen Israeli employees. The report highlighted that Intel reported 20% down sales in 2022, 14% in 2023 and had been trailing behind in AI (artificial intelligence) and might be hoping to capitalise on the boom by partnering with rivals. Moovit Layoffs: Israel-Based Journey Planning Service Provider To Lay Off 10% of Its Workforce To Focus on Core Business and Increase Profitability.

Intel To Lay Off Unspecified Numbers of Employees To Save Costs, Improve Margins:

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