Intel CEO Lip-Bu Tan announces layoffs: Read the full letter he sent to employees

Intel CEO Lip-Bu Tan announced a restructuring plan involving layoffs and management changes to regain competitiveness. The company aims to cut $1.5 billion in operating expenses over two years, focusing on engineering talent and streamlining processes. A return-to-office mandate of four days a week will also be implemented to foster collaboration and innovation.

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