This company will fire thousands of employees, know the reason?

Intel Corp, the world's largest semiconductor manufacturer, is going to lay off thousands of employees. This disclosure has been made in a recent Bloomberg report. According to the report, the layoffs can be announced as early as this month.

In this layoff, about 20% employees are from sales and marketing divisions. Intel, on the other hand, declined to comment on the job cuts.

Bloomberg said the company had 113,700 employees as of July.

During the Corona pandemic, there was a significant increase in the sales of the company, but now due to the high inflation rate as well as the opening of offices and schools, the sales of computers have come down significantly in the recent past. Due to this there has been a decline in the sales of the company.