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.

Leaks have revealed that Intel intends to lay off about 20% of the workforce in its Intel Foundry manufacturing division next month. O post Leaks indicate that Intel plans to lay off 20% of factory workers next month apareceu primeiro em TechBreak.

Rumors of these layoffs began back in April as Intel looks to refocus on its core business units and shed additional bloat.