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Intel announces layoffs after posting largestever quarterly loss

Admin - 2 years ago
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Intel on Monday confirmed plans to cut its workforce to reduce costs, but declined to share how many workers would be affected. This comes after Intel reported a net loss of $2.8 billion in Q1 last month, its largest-ever quarterly loss. Earlier this year, it cut management pay across the company, with CEO Pat Gelsinger taking a 25% cut.
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