Intel set to lay off around 10,000 workers — despite getting $2.2B in CHIPS Act funds under Biden

Struggling chip giant Intel is reportedly preparing to slash up to 20% of its global workforce next month — despite the company receiving more than $2 billion in federal funding under former President Biden’s signature CHIPS Act.The scale of the layoffs, amounting to around 10,000 workers, was disclosed in an internal email viewed by The Oregonian/OregonLive and confirmed by four Intel employees who spoke to the online news outlet.“These are difficult actions but essential to meet our affordability challeng ...