Gaming PC

Intel CEO Announces Targeted Job Cuts in Wake of Lower Margins

Intel CEO Pat Gelsinger said Thursday that the company will soon A round of “targeted cuts”. As reported by oregon livethe CEO took part in a video conference with company employees and explained that the job cuts were necessary because of the high cost and low margins of the myriad of products Intel develops, manufactures and distributes.

The goal of the cuts is to unlock ways to reduce Intel’s operating costs and restore profitability. This comes just months after Intel and other semiconductor companies received his $52 billion government grant in the United States alone.

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