The headquarters of American technology company Intel Corp in Santa Clara, California, announced a layoff on Thursday. According to reports, many of the layoffs are due to costs associated with amortization and restructuring.
On the previous performance metrics within the company and the current state of affairs, Intel's chief executive director Pat Gelsinger stated: "We are on the path to launching two new 7-nanometer and 5-nanometer technologies, and we are confident that we will continue to strengthen our position in the market."
It is noted that quarterly layoffs amounted to about $5.36 billion due to pandemic-related shifts in consumer behavior and significant competition in the industry.
