Intel to Lay Off Thousands in Major Cost-Cutting Move

The layoffs aim to fund research and development as Intel struggles with declining market share and revenue.

Intel plans to cut thousands of jobs, potentially affecting up to 8% of its workforce.
The layoffs are intended to save up to $10 billion by 2025.
CEO Pat Gelsinger is heavily investing in R&D to regain Intel's competitive edge.
Intel's market share has been eroded by rivals like AMD and Nvidia.
The company will report its second-quarter earnings this week, with flat revenue expected.