Intel (INTC) is laying off more than 100 employees in California and shutting down its automotive chip unit as part of broader cost-cutting and restructuring measures, multiple media outlets reported, citing company filings.
A June 19 notice filed under California's WARN Act disclosed that 107 positions would be eliminated beginning July 15, the reports said
Intel previously indicated plans to reduce its workforce by 15% to 20% and streamline operations under CEO Lip-Bu Tan's leadership, the reports said.
Intel did not immediately respond to MT Newswires request for comment.
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