Intel will lay off thousands more workers as part of a restructuring move to revive the company's fortunes, according to a Bloomberg report. The announcement is believed to be made this week and is due to the impact of the company which will now focus more on research and development to restore their status as the world's leading semiconductor company.
Over the past five years Intel's hold on the chip industry has faced opposition from AMD and NVIDIA. They also lost Apple as a customer after their chips were replaced with Apple SIlicon.
The position is now increasingly threatened by the introduction of ARM-based chips by Qualcomm that began to be marketed a month ago. The issue involving the 13th generation and 14th generation Intel chips that we have reported gives a bad perception to Intel because the damage that occurs is permanent.
Last year Intel already laid off 5% of their workforce and now has around 110,000 employees. By continuing the workforce reduction process, Intel aims to reduce operating costs by up to $10 billion by 2025.