Intel Layoffs May Be Coming

I don’t know how accurate this report is but if it is true I would expect the effects to far reaching.

Sources speaking to Bloomberg said Intel could announce the layoffs when it posts its third-quarter earnings report on October 27. The company already slashed its profit projection by $11 billion back in July when it warned of increased chip prices due to rising production costs caused by inflation and the global chip shortage. The increases are expected later this year and could be between 10-20 percent.