US chip giant Intel downsizing in Israel amid mass layoffs, falling revenue – Middle East Monitor

US chip giant Intel has launched a major downsizing campaign in Israel, slashing jobs and scaling back operations at its flagship manufacturing site in the southern city of Kiryat Gat, in a move signaling deeper structural challenges facing the company both locally and globally, Anadolu reports.

According to a detailed report by Israel’s Globes business daily, Intel has reduced its workforce at the Kiryat Gat plant from around 5,000 employees in 2019 to 4,000…