Intel Corporation is preparing to cut up to 20% of its global factory workforce, a staggering reduction that could reshape the future of the company and the wider semiconductor industry. An internal memo from Naga Chandrasekaran, Intel’s Vice President of Manufacturing, confirmed that thousands of jobs will be slashed across its global production network. “These are difficult actions but essential to meet our affordability challenges and current financial position,” Chandrasekaran wrote, acknowledging what he called a “painful but necessary” step to improve Intel’s competitiveness. For those following Intel closely, this moment has been a long time coming, and it raises
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