Intel announces layoffs of over 5,000 employees

Amaravati: It seems that difficult times have begun for those working in tech jobs around the world. With financial problems for companies, volatility in global markets, and the increasing use of AI, companies have started cutting jobs to reduce costs. As part of this, chip manufacturing company Intel has announced that it is laying off more than 5,000 employees. It has been made clear that layoffs will occur across America this week. It was revealed that layoffs are being implemented as part of cost reduction. It said layoffs would be most likely in Oregon and California. Lip-Bu Tan took over as Intel’s new CEO in March this year. Intel, which is undergoing a major reorganization under his leadership to reduce the financial burden on the company, has announced steps to lay off more than 20 percent of its employees. If software employees don’t embrace new technology in the coming days…will they have to sit on the bench?