Intel to cut 200-plus jobs in 5th round of layoffs this year

Intel is cutting 235 jobs in its fifth round of layoffs. The semiconductor giant plans to reduce costs and accelerate its strategy through multiple initiatives. The layoffs will take place at its research and development facility in Folsom. Intel has previously eliminated 549 positions at the Folsom campus. Reports suggest that up to 20% of employees may be laid off in the client computing and data centre divisions. The company aims to reduce costs by $10 billion by 2025.