The move follows Intel’s announcement in October that it planned to lay off an unspecified number of employees worldwide, and even ditch some product lines, in response to a worsening economic situation. These plans are part of a massive reduction in spending, with Intel looking slash $3 billion annually starting next year and by between $8 billion and $10 billion by 2025. However, this isn’t going to stop the chipmaker from continuing to invest in building new chip manufacturing plants, as Intel confirmed this week when the company reiterated its commitment to manufacturing expansions in the US and in Europe that are set to cost billions of dollars. In an official statement sent to The Register, Intel said it was taking steps to reduce costs and improve efficiencies detailed during its recent earnings call, while protecting the investments needed to position the company for long-term growth.
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