Semiconductor chip manufacturer Intel Corporation (NASDAQ:INTC) may see job cuts soon, CEO Pat Gelsinger said in a video call to staff. Further details will be available on November 1, Gelsinger added. Intel manufactures microprocessors for personal computers (PC) as well as motherboard chipsets, network interface controllers, integrated circuits, flash memory, graphics chips, embedded processors, and other devices related to communications and computing. The planned layoffs are aimed at improving Intel’s financial condition, which is facing declining demand for its products owing to the sluggish PC market. As of July 2022, Intel had a total of 113,700 employees.
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