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Intel announced a significant restructuring, resulting in approximately 24,000 job cuts, a reduction of roughly one-quarter of its workforce. The company will scale back projects in Germany and Poland, and consolidate assembly and test operations from Costa Rica to Vietnam. This restructuring aims to align spending with market demand and follows previous unannounced layoffs. Despite a $2.9 billion loss this quarter, Intel maintains that key projects, such as new laptop chips, remain on track. The company plans to reduce expenses by $17 billion this year.

Prepared by Christopher Adams and reviewed by editorial team.