💨 Abstract
Intel is downsizing significantly, aiming to reduce its workforce by 31% to 75,000 employees by the end of the year through layoffs and attrition. The company is also halting projects in Germany and Poland, relocating operations in Costa Rica, and slowing construction of a plant in Ohio. Founded in 1968, Intel has struggled to keep up with competitors in mobile computing and AI, with its market cap at $98.
Courtesy: WTOP Staff
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