Intel to lay off 15,000 employees worldwide and cut 2025 budget by $10 billion

Intel is laying off 15,000 employees worldwide and plans to cut its budget by $10 billion through 2025. The layoffs and budget cuts are mainly in response to a long-term decline in revenue, which is mainly due to a decline in sales of computer chips for personal computers and data centers, as well as fierce competition from other semiconductor design companies and manufacturers.