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moving on now the US chip maker Intel announced that it will reduce its Workforce by more than 15% as a part of major streamlining effort the company plans to cut approximately $20 billion in expenses this year following a reported loss of $1.6 billion in the most recent quarter Chief Financial Officer David zinel attributed the negative earnings to headwinds in ramping up Intelamp;#39;s artificial intelligence pc product and unused capacity at its facility ities with over 1 lakh 24,000 employees at the end of last year the layoff could affect around 18,000 positions additionally Intelamp;#39;s decision to haul the expansion of a major Factory project in Israel which was set to add about $15 billion to a chip plant reflects the companyamp;#39;s strategy to adapt to changing project timelines and Industry challenges for